Security Bank Corp.’s retail banking head, Rahul Rasal, is stepping down in December as the bank undertakes a broad leadership reorganisation involving more than a dozen senior officers, according to Philstar.

In a regulatory filing, the bank said Rasal, Executive Vice President and Retail Banking Segment Head, tendered his voluntary resignation for personal reasons, effective December 31.

Rasal will transition out of his current role starting October 1, with Security Bank President and CEO Victor Lee assuming interim oversight of the retail banking segment.

“We thank Rahul for his contributions during his time with Security Bank and wish him success in the next chapter of his career,” Lee said.

Senior Vice President Jonathan Diokno, who heads the bank’s deposits business group, is also resigning for personal reasons effective November 1.

The departures come alongside a wider reorganisation the bank’s board approved on September 29, covering 14 senior executives, with changes in responsibilities, reporting lines and newly established roles.

Among them, the bank is creating distinct customer-facing positions, including separate chief customer officers for wholesale and retail.

Four designation changes take effect October 1, with another 10 following on January 1, 2027.

“The strategy has been set. Our priority now is execution,” Lee said. “These leadership alignments strengthen accountability across the Bank and ensure we’re positioned to deliver on the commitments we’ve made to our stakeholders.”

Rasal joined Security Bank in 2021 as Senior Vice President and Consumer Finance Group Head, bringing prior experience at Future Generali in India, First Abu Dhabi Bank, and Citibank Taiwan.

He was promoted to Retail Banking Segment Head in 2023, and previously spoke to Fintech News Philippines about the bank’s technology investment priorities in retail banking.

Featured image: Edited by Fintech News Philippines based on an image by topntp26 via Magnific and Rahul Rasal via LinkedIn.