Standard Chartered Bank chief aims to plant Asean flag in PH
At the archives of Standard Chartered Bank (SCB)—the first foreign bank to set up shop in the Philippines and one of the oldest banks in Asia—one can find telegraphic transfers made by the family of Jose Rizal to support his studies in Spain. Long before the era of e-wallets, wire transfers and cryptocurrencies, this bank has been a silent witness to the evolution of the Filipino nation.
“While there have been so many quantum changes in banking since then, this fulfillment of a fundamental need remains at the core of Standard Chartered,” says Mike Samson, the newly minted CEO of SCB Philippines.SCB made its Philippine debut in 1872, initially focused on financing agricultural enterprises and trade. Since then, it has contributed to banking modernization and economic development in this part of the world, navigating an industry marked by cutthroat competition and tightening regulation. Now with a local balance sheet of more than P103 billion—globally, it’s $826 billion or roughly twice the size of the Philippine economy—SCB banks on 152 years of local expertise, unique international network and global resources to support local corporate and institutional clients with their transaction banking, financial markets and funding needs.
As the new captain of the ship, Samson vows to uphold the British banking giant’s rich legacy in this market.
“Historically, our bank in the Philippines has been blessed with many strong and accomplished CEOs, including our most recent CEO Lynette Ortiz. The aspect of legacy-building includes being a good custodian for the foundations laid before,” Samson says in an email interview with Inquirer.
“Looking forward, my aspiration is to align with the transition aspirations of the Philippines, to support the launch of the country’s first sovereign wealth fund, and to help build the ambitious infrastructure goals of the Marcos administration.”Ortiz, Samson’s predecessor, is now CEO of the state-owned Land Bank of the Philippines, one of the major equity funders of Maharlika Investment Corp., the company that will set up the sovereign wealth fund as envisioned by President Marcos.
“I would also hope to have our branch be the bridge for our clients into the global capital markets, especially as our own clients also embark on their own transition. Lastly, I hope to keep pace and be a partner for the transformation of the Philippines into a truly digital economy, one that allows the participation of as many of our countrymen in the new economy,” Samson says.
‘Glocal’ CEO
Samson had built a thriving investment banking career outside the Philippines for nearly three decades before coming home to lead the local franchise. Prior to this appointment, he was CEO of SCB in Australia, where he successfully helped in strengthening the brand and driving profit growth.
Since joining SCB in 2009, Samson has held various leadership roles at the global bank. He used to be the Asean (Association of Southeast Asian Nations) and South Asia corporate finance head for SCB (Singapore) Ltd. and the Asean regional head for leveraged and structured solutions.
Like his predecessor at SCB, he is thus described as a “glocal” talent, a local professional with extensive global experience.
Samson graduated from the Ateneo de Manila University with a B.A. degree in management economics (with honors). Before pursuing a career in banking, he had worked at Andersen Consulting, which later became Accenture.“However, banking provided a greater opportunity to make a difference in the trajectories and aspirations of clients. The shift to banking was logical as the whole of Asia in the early 90s was opening up to the capital markets, and investment banking desks were being established all across,” Samson says.
