The Philippine Bank of Communications (PBCOM) has named former Security Bank executive John Cary L. Ong as its next president and CEO.

The board appointed Ong as CEO designate on Wednesday, according to a report by Business Inquirer.

He will formally assume the position after completing a minimum three-month transition period and securing necessary regulatory approvals.

Ong most recently served as executive vice president and head of the wholesale banking segment at Security Bank.

He oversaw corporate banking, deposits, and asset business units during his tenure.

Ong brings three decades of banking experience to the role, having previously held senior positions at UnionBank, Citibank, and Deutsche Bank.

He succeeds Patricia May T. Siy, who served as president and CEO for over a decade.

Siy will continue to lead the bank during the transition phase before joining the board of directors.

The leadership transition follows recent operational milestones for the financial institution, including regaining its universal banking licence.

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