MANILA, Philippines — Rizal Commercial Banking Corp. (RCBC) and Security Bank Corp. have announced top-level leadership changes aimed at strengthening their companies as they pursue strategic growth and governance initiatives.
The Yuchengco-led RCBC is bringing in former finance secretary Carlos Dominguez as an independent director, effective July 28, filling the vacancy left by former director Gabriel Claudio.
Dominguez will also serve as chairperson of both the Related Party Transactions Committee and the Anti-Money Laundering Committee. He will also be a member of the Corporate Governance and Nominations Committee.
Dominguez brings with him over four decades of experience in both the public and private sectors. He led the Department of Finance from 2016 to 2022 and represented the Philippines in major global financial institutions.
He previously held executive roles in companies such as BPI Agricultural Development Bank and Philippine Airlines.
Also joining RCBC’s advisory board is Yasunori Takahashi, a seasoned banker with over 35 years at Sumitomo Mitsui Banking Corp. (SMBC).
Takahashi is currently a non-resident supervisory board member of Vietnam Prosperity Joint Stock Commercial Bank and serves as an advisor for SMBC’s Asia Business Development Division.
Meanwhile, Security Bank announced yesterday that executive vice president and chief financial officer Eduardo Olbes is retiring early, effective Sept. 15, after more than 15 years with the bank.
Olbes will assume the role of senior advisor to the president and CEO starting Aug. 11 to ensure a smooth transition to the incoming chief finance officer.
Replacing him is Allen Alexander Reyes, a seasoned finance executive with 27 years of experience across Singlife Philippines, Diageo, Sony Global Services, Deutsche Bank and a previous stint at Security Bank. Reyes will officially step in on Aug. 11.
Security Bank also announced the formal establishment of its Wealth Segment effective Aug. 1.
Jefferson Ko, a 28-year veteran in financial markets and wealth management, will serve as senior vice president and head of the newly created unit.
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