A changing of the guard looms at foreign bank JP Morgan Philippines as country chief Roberto “Bobbit” Panlilio is retiring after 20 years of service.
Effective April 1 this year, deputy senior country officer Carlos Mendoza will become JP Morgan’s new country head or senior country officer (SCO) while retaining his investment banking responsibilities.
The new appointment was contained in an internal memo issued to employees by Nicolas Aguzin, chief executive officer at JP Morgan in Asia Pacific.
After two decades of service as SCO, Aguzin said Panlilio had expressed his desire to retire from the firm.
“We are pleased that Bobbit has agreed to be a nonexecutive chairman of JP Morgan in the Philippines and we will continue to benefit from his experience and insights,” Aguzin said.
Incoming country chief Mendoza has been with JP Morgan for 11 years. He has been Panilio’s deputy since February 2018 as part of the bank’s succession planning.
As deputy SCO, he oversees management of the bank’s overall franchise in the country across all lines of business.
Before joining JP Morgan, Mendoza had worked at GE Capital for eight years with the rank of vice president. He was a senior associate at PCI Capital.
Mendoza graduated from the Ateneo de Manila University in 1991 with a degree in management engineering and obtained his MBA (finance and international business) from NYU Stern School of Business in 2000.