Security Bank Corporation announced that its Wholesale Banking Head, John Cary Ong, has officially stepped down from his position, BusinessWorld reported.

President and Chief Executive Officer Victor Lee Meng Teck thanked the executive for his meaningful contributions to the business franchise.

Lee will temporarily oversee the segment alongside other senior executives to ensure business continuity across corporate operations.

The interim leadership team includes Alliance Segment Head Hirofumi Umeno and Corporate Banking Head Yvonne Marcelo.

Commercial Banking Head Jorge Lindley Ong and Capital Investment President Virgilio Chua will also support the transitional management structure.

Lee emphasised that the corporate division remains a key growth engine for the financial institution despite the leadership change.

The bank plans to leverage its strategic partnership with Japanese shareholder MUFG Bank to capture emerging market opportunities.

The financial institution recently reported that its attributable net income dropped by 4% to PHP 2.704 billion during the first quarter.

Featured image: Edited by Fintech News Philippines based on an image by pixelshunter via Magnific.