BIZ BUZZ: Olbes passes the torch

After more than 15 years, Eduardo Olbes of Security Bank Corp. is officially passing the torch and sharing his expertise in another capacity.

The bank announced on Tuesday Olbes’ early retirement as chief financial officer, effective Sept. 15. But his new(ish) role will begin earlier.

Starting Aug. 11, Olbes, described as a “valued leader” at Security Bank, will be senior advisor to the president and CEO.

“We thank Edu (Olbes) for his exceptional leadership and years of dedicated service,” Security Bank president and CEO Sanjiv Vohra said in a statement.

“His strategic insight and financial stewardship have helped shape the solid foundation we stand on today,” Vohra added.

Indeed, as CFO, Olbes saw the importance of sustainable financing early on. According to Security Bank, he was responsible for deepening the company’s commitment to sustainable finance and environment, social and governance principles that are now embedded into its operations.

Before his stint as CFO, Olbes led SB Rental Corp., SBM Leasing, SB Equities, Security Bank Capital Investment Corp. and the wholesale banking segment.

In his place will be Allen Alexander Reyes, who carries with him 27 years of experience from Singlife Philippines, Diageo, Sony Global Services and Deutsche Bank.

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The returning Security Bank official is valued for his “deep expertise” in corporate and business finance, process transformation and governance, among others.

In the middle of all this, Security Bank also formally launched its Wealth Segment, which Jefferson Ko will manage as vice president and head by Friday, Aug. 1.

“We also congratulate Jeff (Ko) on his new role and look forward to the continued growth of our wealth business under his leadership,” Vohra said.

Three cheers for the three!