Security Bank retail banking head steps down
The retail banking head of Security Bank Corp. is stepping down in December as the lender undertakes a broad leadership reorganization involving more than a dozen senior officers.
Security Bank Corp. announced in a regulatory filing that Rahul Rasal, the executive vice president and head of the retail banking segment, will resign from his position in December. Rasal's departure is voluntary and for personal reasons, with his last day set for December 31. He will transition out of his role starting October 1, with Victor Lee, the bank's president and CEO, taking interim leadership of the retail-banking segment to maintain continuity and ensure smooth operations.
Additionally, Security Bank senior vice president Jonathan Diokno, who heads the bank's deposits business group, is resigning for personal reasons, effective November 1. These departures are part of a broader leadership reorganization approved by the bank's board on September 29, involving 14 senior executives and changes in responsibilities, reporting lines, and newly established leadership roles.
The restructuring aims to align management responsibilities with the bank's strategic priorities and provide clearer accountability across customer, product, and distribution functions. Four designation changes take effect on October 1, while another 10 changes will occur on January 1, 2027. Notable changes include Price Edward Yap becoming the financial markets product head, Rene Alan Aguirre shifting to investments product head from wealth segment head, Orencio Andre Ibarra III being designated as trading head and treasurer, Hirofumi Umeno becoming the chief customer officer for wholesale, and Ma.
Patricia Tan taking on the role of chief customer officer for retail. Leslie Cham moves to branch coverage head, and Yvonne Joanna Marcelo becomes wholesale coverage head. Victor Lee emphasized the bank's commitment to executing its strategy and strengthening accountability across the organization to deliver on its commitments to stakeholders.
Written by urgent.news from Philippine Star Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
