BIZ BUZZ: Money man shuffle at Security Bank
Security Bank Corp. has picked one of its longtime growth executives to take over the bank’s finance helm—a move that signals the lender’s preference for continuity as competition in the banking sector heats up.
The bank led by tycoon Frederick Dy said executive vice president John David “JD” Yap would become chief financial officer effective June 13, replacing senior vice president Allen Reyes, who is leaving “to pursue other opportunities.”
But this is not just a routine finance appointment.
Yap currently heads Security Bank’s business banking segment, a unit that has become one of the lender’s key growth engines amid the race to capture more small and medium enterprise clients. Under his watch, the segment bagged several “Best Bank for SMEs” awards last year from regional financial publications.
By moving a business-side executive into the new role, Security Bank appears to be blending finance discipline with growth execution—especially at a time when banks are balancing loan expansion with asset quality and capital management concerns.
Yap will oversee financial planning, regulatory and financial reporting, capital management, investor relations, sustainability and broader finance strategy.
Security Bank president and CEO Victor Lee described Yap as an executive with a “strong record of building businesses” and driving execution at scale.
Yap brings over 25 years of experience spanning banking, analytics, risk management, and business development. Before joining Security Bank, he held leadership roles in Singapore at Standard Chartered Bank, Fullerton Financial Holdings, United Overseas Bank and Grab Finance.
Interestingly, Yap will continue overseeing the business banking segment on an interim basis during the transition. Security Bank said governance and oversight arrangements would remain in place to ensure continuity and accountability.
For now, the message from Ayala Avenue seems clear: Keep the growth engine running—while tightening the grip on the balance sheet.
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