Security Bank Corp. is navigating a leadership change in its wholesale banking segment after John Cary Ong stepped down from his role, prompting a temporary setup while the bank ensures continuity in operations.
To manage the transition, bank president and CEO Victor Lee will temporarily oversee the wholesale banking division, working closely with the existing leadership team.
The arrangement is meant to keep the unit stable while day-to-day operations and client coverage continue without disruption.
Interim oversight in place
During the transition period, Lee will coordinate with key executives across related business units, including Hirofumi Umeno (alliance segment), Yvonne Marcelo (corporate banking), Jorge Lindley Ong (commercial banking), and Virgilio Chua, who leads Security Bank Capital.
The internal team will handle responsibilities across wholesale banking functions while leadership remains in flux.
Bank acknowledges Ong’s exit
Lee expressed appreciation for Ong’s contribution to the institution.
“John has made meaningful contributions to our wholesale banking business, and we thank him for his leadership and service. We wish him every success in his future endeavors,” he said.
Wholesale banking remains a core focus
Security Bank Corp. said its wholesale banking segment continues to be a key growth driver, supported by its leadership bench and long-term strategy.
The bank also highlighted continued support from its strategic investor, Japan’s Mitsubishi UFJ Financial Group, which holds a 20% stake.
“With the support of our alliance partner and shareholder MUFG, we are well-positioned to capture emerging opportunities and create long-term value for our stakeholders,” Lee said.
A key business unit in transition
Wholesale banking remains central to Security Bank’s corporate strategy, serving large institutional and corporate clients.
Founded in 1951, Security Bank operates a nationwide network of 390 branches and 666 automated tellers, cash recyclers, and cash acceptance machines.
As the leadership transition unfolds, attention now turns to who will permanently take over the wholesale banking role and how the bank will sustain momentum in one of its core revenue drivers.
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