BPI names Limcaoco as new president, CEO

MANILA, Philippines—Bank of the Philippine Islands (BPI) has named Ayala group’s homegrown corporate, consumer and investment banking veteran, Jose Teodoro “TG” Limcaoco, as its new president and chief executive officer effective April 22, 2021.

The 58-year-old Limcaoco, currently chief financial officer of parent conglomerate, Ayala Corp., will succeed Cezar “Bong” Consing who had reached retirement age in 2019 but agreed to extend his term to ensure a smooth leadership transition.

“TG is an excellent choice to lead BPI,” Consing, 61, said in a press statement on Wednesday (Dec. 16).

“Prior to his many roles in Ayala, he headed the bank’s investment banking business, and later our retail lending business. He has been a banker for most of his career, and his strong technological bent and commitment to sustainability will be critical for the BPI of the future,” said Consing.

This is seen as a suitable homecoming for Limcaoco, who had been an executive vice president of BPI, president of BPI Capital (2007-2010) and president of BPI Family Savings Bank (2010-2015) before taking on his current roles at Ayala.

He is deemed by the group as a “proven leader and industry expert.”

Concurrent to his roles at Ayala, he has been a board member of BPI since February 2019 and a member of the executive committee since April 2019.

He had likewise been in charge of BPI’s insurance businesses, Ayala Life and Ayala Plans, and had primary oversight over BPI Philam and BPI’s non-life insurance business.

Limcaoco holds a BS in Mathematical Sciences (Honors Program) from Stanford University and an MBA from the Wharton School of the University of Pennsylvania.

TSB