BIZ BUZZ: New First Metro Sec chief coming

First Metro Securities Brokerage Corp., the equities house of the Metrobank group, recently submitted to the Philippine Stock Exchange an application to appoint a new nominee.

Biz Buzz sources said that the submission of a new nominee, Mhelvin Abajon, is a prelude to this executive’s appointment as the next president of First Metro Sec.

Subject to board approval, we hear that Abajon will take over the post soon to be vacated by veteran broker Gonzalo Ordonez, who is retiring after 14 years of overseeing the operations and expansion of First Metro Sec as an institutional and online stockbrokerage house.

Abajon, who has been with First Metro Sec for 10 years, is currently senior vice president and head of strategic development division.

As the de facto business strategist of the house, we hear that Abajon has brought a certain kind of “magic” to the local equities firm and helped drive its growth over the years.

Before joining First Metro in 2015, Abajon had worked as a trust account executive with the rank of assistant vice president at the Bank of the Philippine Islands for nearly 11 years.

For his part, Ordonez, who is bowing out by the end of this month, is handing over the helm to Abajon while First Metro Sec is enjoying a strong momentum. The brokerage house hauled 15 global awards —from “Best Broker” to “Best Online Trading Platform” to “Best Place to Work” in 2024 alone.