Security Bank Corp., the seventh largest lender in the country, moved forward with its organizational transformation, with major leadership changes and the formal creation of its Wealth Segment.
Longtime executive Eduardo M. Olbes, executive vice president and chief financial officer, will retire early effective September 15, 2025. He will serve as senior advisor to the president & chief executive officer, beginning August 11, to smoothen the transition.
Olbes spent over 15 years with Security Bank and led the Finance group for the past five years. He was instrumental in modernizing the finance organization, embedding ESG principles into operations, and contributing to subsidiary leadership, including SB Rental Corp., SBM Leasing, SB Equities, and Security Bank Capital.
Succeeding Olbes as CFO is Allen Alexander P. Reyes, also effective August 11. Reyes brings 27 years of experience from companies such as Singlife Philippines, Diageo, and Deutsche Bank. A former Security Bank officer himself, he specializes in corporate finance, governance, and process transformation. He is a graduate of the University of Santo Tomas and completed a sustainable leadership program at Oxford University.
Meantime, Security Bank will launch its Wealth Segment, effective August 1, with Jefferson T. Ko appointed as senior vice president and head. Ko brings 28 years of financial markets and wealth management experience, including leadership roles in Maybank, ING, and China Bank. He joined Security Bank in 2022 and currently leads Investment Solutions.
President and CEO Sanjiv Vohra expressed gratitude to Olbes and welcomed Reyes and Ko to their expanded roles.
