East West Bank names new president

Gotianun-led East West Bank has enlisted treasury veteran Jesus Roberto “Bobby” Reyes as its new president and deputy chief executive officer effective May 1, a move widely seen as succession planning for the bank.

Antonio Moncupa Jr. —one of the candidates to the top post at the Bangko Sentral ng Pilipinas—will remain East West vice chair and CEO, East West said in a statement yesterday.

Reyes is stepping down as senior executive vice president, treasurer and chief financial officer of Aboitiz-led Union Bank of the Philippines on April 30.

The country’s ruling political party, PDP-Laban, has endorsed Moncupa to be the next BSP chief.

Asked whether his bank’s move was any indication that he would get the BSP post, Moncupa said in a text message that there was no truth to rumors that he had been picked to be the next BSP chief. “Not by a long shot,” he said.

The other candidates to the BSP post are Diwa Guinigundo and Nestor Espenilla Jr., both deputy governors of the BSP, and veteran banker and former Monetary Board member Peter Favila, who is also backed by many of the President’s key political allies.

“In its efforts to sustain its robust growth and double its total resources in the next few years, EW continues to look for opportunities to improve and enhance its work processes and further broaden and deepen its executive bench,” EastWest Bank said in a disclosure to the Philippine Stock Exchange yesterday.

Moncupa said the “strengthening” of the executive team of the bank formed part of its “forward looking vision” to meet “the challenges of an increasingly competitive landscape.”

The bank also announced the appointment of Maria Rita Nisperos as senior vice president and head of marketing.

“A bank like East West is always looking at opportunities to beef up its executive bench. This step is essential and vital to support the effort to accelerate growth and serve our customers better,” Moncupa said. Doris Dumlao-Abadilla