PINOY TALENT Mike Samson, former CEO of SCB Australia, came home to head the Philippine business. —Contributed photo
At the archives of Standard Chartered Bank (SCB)—the first foreign bank to set up shop in the Philippines and one of the oldest banks in Asia—one can find telegraphic transfers made by the family of Jose Rizal to support his studies in Spain. Long before the era of e-wallets, wire transfers and cryptocurrencies, this bank has been a silent witness to the evolution of the Filipino nation.
“While there have been so many quantum changes in banking since then, this fulfillment of a fundamental need remains at the core of Standard Chartered,” says Mike Samson, the newly minted CEO of SCB Philippines.
SCB made its Philippine debut in 1872, initially focused on financing agricultural enterprises and trade. Since then, it has contributed to banking modernization and economic development in this part of the world, navigating an industry marked by cutthroat competition and tightening regulation. Now with a local balance sheet of more than P103 billion—globally, it’s $826 billion or roughly twice the size of the Philippine economy—SCB banks on 152 years of local expertise, unique international network and global resources to support local corporate and institutional clients with their transaction banking, financial markets and funding needs.
As the new captain of the ship, Samson vows to uphold the British banking giant’s rich legacy in this market.
“Historically, our bank in the Philippines has been blessed with many strong and accomplished CEOs, including our most recent CEO Lynette Ortiz. The aspect of legacy-building includes being a good custodian for the foundations laid before,” Samson says in an email interview with Inquirer.
“Looking forward, my aspiration is to align with the transition aspirations of the Philippines, to support the launch of the country’s first sovereign wealth fund, and to help build the ambitious infrastructure goals of the Marcos administration.”
Ortiz, Samson’s predecessor, is now CEO of the state-owned Land Bank of the Philippines, one of the major equity funders of Maharlika Investment Corp., the company that will set up the sovereign wealth fund as envisioned by President Marcos.
“I would also hope to have our branch be the bridge for our clients into the global capital markets, especially as our own clients also embark on their own transition. Lastly, I hope to keep pace and be a partner for the transformation of the Philippines into a truly digital economy, one that allows the participation of as many of our countrymen in the new economy,” Samson says.
‘Glocal’ CEO
Samson had built a thriving investment banking career outside the Philippines for nearly three decades before coming home to lead the local franchise. Prior to this appointment, he was CEO of SCB in Australia, where he successfully helped in strengthening the brand and driving profit growth.
Since joining SCB in 2009, Samson has held various leadership roles at the global bank. He used to be the Asean (Association of Southeast Asian Nations) and South Asia corporate finance head for SCB (Singapore) Ltd. and the Asean regional head for leveraged and structured solutions.
Like his predecessor at SCB, he is thus described as a “glocal” talent, a local professional with extensive global experience.
Samson graduated from the Ateneo de Manila University with a B.A. degree in management economics (with honors). Before pursuing a career in banking, he had worked at Andersen Consulting, which later became Accenture.
“However, banking provided a greater opportunity to make a difference in the trajectories and aspirations of clients. The shift to banking was logical as the whole of Asia in the early 90s was opening up to the capital markets, and investment banking desks were being established all across,” Samson says. His shift to banking was crystalized after finishing his Master of Business Administration degree in finance and strategic management at University of Pennsylvania Wharton School of Business. He is also an alumnus of the Asian Financial Leaders Program of Singapore Management University.
Making a difference
“If you are fortunate to stay the course and achieve a certain level in banking, the profession provides a great platform to do four things: 1) to make a difference for clients; 2) to be at the forefront of major economic and sectoral trends; 3) to have the privilege to access the global capital markets; and 4) in doing the above, to be part of nation-building—this is especially true in the Philippines and in Asean,” he says.
Banking has provided him a unique and privileged platform to be part of landmark transactions, he says.
He considers among the highlights of his banking career abroad his role in the transformation of the Thai gas industry through project financing, alongside big-ticket acquisition deals that supported the growth of conglomerates in the Philippines, Indonesia, Malaysia, Singapore and Thailand.
He also recalls handholding sovereign and corporate clients to debut on the capital markets. He has likewise his fair share in supporting the transition of Asean into renewable energy, the electric vehicle and battery metal revolution, and assisting in the decarbonization of industries with hard-to-abate gas emissions, like manufacturing, transport and infrastructure.
And having been part of the Philippine diaspora for 27 years, he has unequivocal empathy for fellow Pinoys who seek greener pastures abroad for the good of those back home.
“I am most excited to return to my homeland, to make a difference, to participate in nation-building, and to plant the flag of Asean in the country as I will also look after client coverage for the region,” he says.
All countries and regions have their challenges, which could only lead to opportunities, Samson explains.
“In Asean, governments are focused on a massive infrastructure drive, a transition to sustainability, uplifting of large parts of the economy and macropolitical movements in the region,” he points out.
Thus, he says international banks like SCB have to seek relevance vis-à-vis these goals while aligning their own sustainability commitments with the targets of global regulators.
“Banks also need to contend with generational change in the industry, especially in cyber-safety, relevance to new forms of trade, cryptocurrency, reshoring of manufacturing and the disruption of the global supply chain,” he says.
In the Philippines, he is most bullish on infrastructure, clean and renewable technology and digital infrastructure, especially data centers. He also expects SCB to continue supporting the growth of local conglomerates.
Art patron
Outside of banking, Samson is active in the contemporary arts scene. He sits on the board of Singapore Art Museum and is part of the Governing Council of the NTU Centre for Contemporary Art.
Together with his wife, he has been collecting contemporary art for over two decades.
“We both come from families where art was deeply appreciated. Sometime in the early 2000s, we started focusing on contemporary art, first from the Philippines, then all across Asean. We had lived in Singapore for over 20 years and this afforded us a window into the great contemporary art movements across Asean,” Samson says. “Today, other than paintings, we have supported artists whose practice extends to sculpture, photography, performance, installation and video.”
“If the pandemic taught us anything, when art (film, literature, music) was our only companions in lockdown, the importance, significance and sustaining power of art must be acknowledged,” he explains.