Philippine Bank of Communications (PBCom) has formalized the appointment of John Cary L. Ong as its new president and chief executive officer, completing a leadership reshuffle that also saw Hans Brinker M. Sicat leave the board and Patricia May T. Siy step down as CEO.
The bank’s board approved the changes at its regular meeting on Sept. 30, with Ong’s appointment taking effect Thursday, Oct. 1.
Ong, who was designated as president and CEO in June, was elected to the board effective Sept. 30, filling the vacancy created by Sicat’s resignation as a director on the same day. The board then confirmed Ong’s designation as president and CEO effective Oct. 1.
Sicat’s departure from the board opened a seat for Ong as the bank prepared for the leadership transition. PBCom didn’t disclose the reason behind the departure of Sicat, an investment banker who was previously the president of the Philippine Stock Exchange.
Siy, meanwhile, resigned as president and CEO effective Sept. 30 and will remain with PBCom as a regular director beginning Oct. 1.
The reshuffle effectively separates the bank’s executive and board roles, with Ong taking over day-to-day leadership while Siy remains part of the board.
PBCom is also strengthening its senior management ranks with two new hires approved by the board.
Jon Sherbert G. Dela Cruz will join as senior vice president and chief information officer on Oct. 5, heading the Information Technology Group.
Maria Regina S. Sy-Tan will join as senior vice president and chief strategy and implementation officer on Oct. 16 under the Office of the President.
The appointments give Ong additional senior executives overseeing technology and strategy as he assumes the bank’s top management post.
