Security Bank Corp. has appointed Singaporean banker Victor Lee Meng Teck as its new President and Chief Executive Officer (CEO). The appointment will take effect in early January 2026.

Lee, the former CEO of CIMB Singapore, will replace the incumbent president and CEO, Sanjiv Vohra. Vohra has led the bank for more than six years.

The bank announced in a stock exchange disclosure on Tuesday that Vohra will transition to a new role as a senior advisor to the board. This will take place after he steps down from his current position next year.

Security Bank Chair Cirilo Noel acknowledged Vohra’s contributions. He thanked him for his “steady leadership during one of the most challenging periods in recent history.” This is referring to the onset of the COVID-19 pandemic, which began months after Vohra’s appointment.

“As we welcome Victor, we’re confident this seamless transition will allow us to sustain momentum and capture new opportunities,” Noel noted.

According to Security Bank, Lee is recognised for having spearheaded the growth of CIMB Singapore during his tenure as its CEO.

The bank credited him with doubling CIMB Singapore’s revenue and raising its return on equity to nearly 20%.

Lee’s appointment is the latest in a series of leadership changes at the financial institution.

It comes two months after the bank announced the early retirement of its Chief Financial Officer, Eduardo Olbes. Olbes, who had been with the bank for 15 years, transitioned to the role of Senior Advisor to the President and CEO on August 11.

Featured image: Edited by Fintech News Philippines based on images by fanjianhua via Freepik.