Security Bank names expat as new CEO
MANILA, Philippines–Lender Security Bank has named ex-Citibanker Sanjiv Vohra as its new president and executive officer effective July 1, taking over the post to be vacated by Alfonso Salcedo Jr.
Upon his retirement, Salcedo — who served as president and CEO since 2015 — will remain as director and will chair the executive committee. The bank’s former president Rafael Simpao Jr., on the other hand, will retire as director effective June 30 and will become a senior adviser to the board.
Vohra is no stranger to the Philippine market as he previously headed Citibank Philippines for eight years.
In a press statement on Tuesday, Security Bank chair Alberto Villarosa explained that the organizational changes reflected the bank’s focus on ensuring the continuity of the overall business strategy formulation and execution.
“With the appointment of Sanjiv Vohra, the bank is manifesting the institution’s commitment to professionalism and to bringing in leaders who not only understand the Philippine market but the global markets as well. The banking business is truly becoming globalized and cross-border transactions, partnerships and alliances are now becoming the new normal,” Villarosa said.
Villarosa cited Vohra’s deep experience in banking, having held a number of senior leadership positions in Asia at Citibank, ABN AMRO Bank, the Royal Bank of Scotland, Deutsche Bank and MUFG Bank, alongside his experience in the domestic market as country chief of Citibank Philippines.
“I am confident that he can bring Security Bank to the next level,” he said.
Vohra noted that he would be joining Security Bank at a time when the bank had built up its retail banking business “as a strong and sustainable third business pillar under the brand promise and commitment of BetterBanking.”
“The Bank has made all the right moves in these last few years. I believe that Security Bank is in a very good position to take advantage of the growing domestic market while making the most out of the synergies available through its strategic alliances, including the partnership with MUFG. I truly feel privileged in getting this opportunity to lead this franchise,” he said.
Villarosa added: “Sanjiv brings with him the experience that will support the enhancement of our BetterBanking commitment. He also brings with him a new perspective to our customer value proposition, as well as global best practices which will give a big push to our transformation and innovation journey towards becoming a world-class bank that goes beyond borders.” (Editor: Jonathan P. Vicente)
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