Former Philippine Stock Exchange (PSE) president and chief executive Hans B. Sicat will head the Manila office of Dutch banking giant ING when current country manager Consuelo D. Garcia retires in November.
In a statement Monday, ING Bank N.V. said Sicat would already be joining the bank by the middle of next month “to ensure a smooth transition.”
“ING is grateful to Ms. Garcia for her engaging leadership style and the entrepreneurship that she promoted at ING Bank Manila. She always put our clients first,” said Gerrit Stoelinga, ING Wholesale Banking Asia’s chief executive. Garcia’s retirement will be effective Nov. 16.
ING Bank Manila quoted Sicat as saying that “he hopes to build on and expand the business that Ms. Garcia and the ING global team have successfully established” as “his experience in promoting deeper markets, corporate governance and financial inclusion should be supportive of and complementary to ING’s role.”
Stoelinga said ING was fortunate to have Sicat.
Sicat, who led the PSE for six years until May this year, has more than two decades of experience as an investment banker. He worked previously for Citigroup and its predecessors Citicorp and Salomon Brothers.
“A trained mathematician and economist, Mr. Sicat has been involved in the global capital market for about three decades,” ING said. —BEN O. DE VERA