Security Bank’s wholesale banking head steps down

SECURITY Bank Corp. announced on Monday that its Wholesale Banking Segment Head John Cary L. Ong has stepped down from his post.

“John has made meaningful contributions to our wholesale banking business, and we thank him for his leadership and service. We wish him every success in his future endeavors,” Security Bank President and Chief Executive Officer (CEO) Victor Lee Meng Teck said in a statement on Monday.

In the interim, Mr. Lee will oversee the segment, working closely with Head of Alliance Segment Hirofumi Umeno, Head of Corporate Banking Yvonne P. Marcelo, Head of Commercial Banking Jorge Lindley S. Ong, and Security Bank Capital Investment Corp. President and CEO Virgilio O. Chua.

“Wholesale banking remains a key growth engine for the bank, underpinned by an experienced leadership team and a strong foundation for the future… Our clients can expect continuity in leadership and service as we further strengthen our corporate, commercial, and institutional banking franchise,” the bank said.

Security Bank’s attributable net income went down by 4% to P2.704 billion in the first quarter.

Its shares closed at P61.55 each on Monday, down by P1.15 or 1.83% from Friday’s finish. — AMCS