BIZ BUZZ: Security Bank’s Vohra passes the torch
One pandemic and a flood control crisis later, Security Bank Corp. is welcoming a new chief as part of its succession plan, and he’s another veteran banker.
Security Bank on Tuesday announced its appointment of Victor Lee Meng Teck as the company’s new president and CEO, effective in early January 2026.
The former CEO of CIMB Singapore succeeds Sanjiv Vohra after more than six years. Although leaving his post, Vohra will remain the bank’s senior advisor to the board.
“We’re grateful to Sanjiv for his steady leadership during one of the most challenging periods in recent history,” Security Bank chair Cirilo Noel said in a statement.
Vohra’s appointment in 2019 came just months before the onset of the COVID-19 pandemic, which paralyzed economies across the globe and certainly was a challenge even for banks.
“His vision and dedication have left the bank stronger, more resilient and well-prepared for the future,” Noel added.
For his part, Lee was lauded for spearheading the growth of CIMB Singapore and doubling the bank’s revenue and raising return on equity to nearly 20 percent.
“As we welcome Victor, we’re confident this seamless transition will allow us to sustain momentum and capture new opportunities,” Noel noted.
This is a timely development, especially since former Security Bank chief financial officer Eduardo Olbes just retired. He’s also staying on board as senior advisor to the president and CEO.
Is this a new era for Security Bank? Abangan!
