SECURITY Bank Corp. has made some changes among its top executives.
The bank has named Alberto Villarosa as its next chairman, while Chairman Frederick Y. Dy will become the chairman emeritus starting next month.
“I have been chairman for 25 years and will eventually assume the role of chairman emeritus. I wish to assure our customers, our investors, shareholders and our other stakeholders of the Dy family’s absolute commitment and unwavering support as dominant shareholders of the bank,” Dy said.
The organizational change, electing Villarosa as chairman, would ensure the continuity of the bank’s overall business strategy formulation and execution.
Alfonso Salcedo Jr., head of the Bank of the Philippine Islands’s (BPI) Corporate Clients Group, will be Security Bank’s next president and CEO.
“With Villarosa and Salcedo at the helm, we are confident that the bank will move toward being among Asean’s best-managed institutions in terms of good governance and sustainability to enhance shareholder value,” Dy said.
Villarosa assumed the presidency of Security Bank in 2004.
Salcedo who has 30 years of experience in retail banking and finance, will make Security Bank’s consumer banking complement the bank’s existing strengths in wholesale banking and financial markets.
Salcedo is leaving BPI after 15 years of service, beginning in 2000, when he became responsible for the bank’s insu-rance businesses.
“Mr. Salcedo leaves a lasting legacy in the corporate banking business of BPI, a bank that is built on the individual talent and collective strength of its people,” BPI President and CEO Cezar P. Consing said. “Mr. Salcedo is an asset to any organization that he elects to join.”
Replacing Salcedo as head of BPI’s Corporate Clients Group is Daniel Gabriel M. Montecillo, currently president of BPI Capital Corp., the bank’s investment-banking subsidiary.
Montecillo, who has over 25 years of international investment-banking experience, “is a natural fit for the job,” having worked closely with Salcedo and the Corporate Clients team in key corporate financing programs and investment deals that have made BPI Capital a leader in Philippine investment banking.
Montecillo had worked in New York and Hong Kong at Bankers Trust, Credit Suisse and Morgan Stanley.
At BPI Capital, Montecillo will be temporarily replaced by Simon R. Paterno, EVP and current BPI head for Financial Products and Services.
Before joining BPI in 2012, Paterno was CEO-designate of Bank of Commerce, representing CIMB, a Malaysian bank, which had then targeted the former for acquisition.
Genivi Factao