Rizal Commercial Banking Corp. (RCBC) has appointed its former President and CEO Eugene Acevedo as corporate vice chair, effective 26 October, InsiderPH reported.
RCBC’s board approved the appointment at its regular meeting the same day. Acevedo fills the post left by former prime minister Cesar Virata, who died on 2 October at the age of 95.
Succeeding a Long-Serving Vice Chair
Virata had been an RCBC director since 1995 and the board’s corporate vice chair for 26 years, the bank said in a stock exchange filing. Before joining RCBC, he served as finance minister from 1970 to 1986 and as prime minister from 1981 to 1986.
Acevedo, 62, has remained on RCBC’s board since July 2019. He stepped down as President and CEO on 30 June 2025 and was succeeded by Reginaldo “Reggie” Cariaso, who still leads the bank.
A Digital-Focused Tenure as CEO
Acevedo led RCBC from 2019 to 2025, a period in which the bank accelerated its digital transformation efforts and grew its assets to over PHP 1 trillion, Philstar noted when he retired.
RCBC launched its DiskarTech app during his tenure. The platform now powers services such as the SSS LoanLite microloan and PalaSave, the in-app savings account offered with PalawanPay.
Acevedo has 35 years of banking experience, including senior roles at UnionBank, CitySavings Bank, Philippine National Bank and Citibank in the Philippines, Singapore and Hong Kong.
Featured image: Edited by Fintech News Philippines based on an image by leungchopan via Magnific and Eugene Acevedo via LinkedIn.
