SECURITY Bank Corp. has announced a leadership change in its wholesale banking business following the departure of John Cary Ong as head of the segment.
In a statement on Monday, the listed lender said Ong had decided to step down from his position overseeing wholesale banking, one of the bank's primary growth drivers serving corporate, commercial and institutional clients.
The bank did not say why Ong was stepping down and neither did it indicate whether a permanent successor had been identified.
To ensure continuity, Security Bank President and CEO Victor Lee will directly oversee the segment on an interim basis. He will be supported by senior executives leading the bank's alliance, corporate banking, commercial banking and investment banking operations.
The temporary management arrangement brings together Hirofumi Umeno, head of the alliance segment; Yvonne Marcelo, head of corporate banking; Jorge Lindley Ong, head of commercial banking; and Virgilio Chua, president and CEO of Security Bank Capital.
Lee said the transition would not affect the bank's service to clients or growth plans for the business.
"Wholesale banking remains a key growth engine for the bank, underpinned by an experienced leadership team and a strong foundation for the future," Lee said.
"With the support of our alliance partner and shareholder MUFG, we are well positioned to capture emerging opportunities and create long-term value for our stakeholders. Our clients can expect continuity in leadership and service as we further strengthen our corporate, commercial and institutional banking franchise," he added.
The wholesale banking segment plays a crucial role in the bank's earnings base by providing financing, treasury, capital markets and transaction banking services to businesses and institutions.
The leadership change comes as Security Bank continues to deepen its partnership with Japan's MUFG Bank, one of the world's largest financial groups. MUFG holds a 20-percent stake in the Philippine lender and has supported initiatives involving cross-border business, governance, risk management and capital markets.
As of March 31, 2026, Security Bank reported total assets of P1.2 trillion. The bank operates 390 branches nationwide and maintains a network of 666 automated teller machines, cash recycler machines and cash acceptance machines.
The lender said its wholesale banking franchise remained positioned for further expansion as it seeks to capitalize on opportunities in the corporate and institutional banking space.
Shares of the bank on Tuesday slipped P0.05, or 0.08 percent, to close at P61.50 each.
NAZYLEN JOY MABANGLO
