RIZAL COMMERCIAL Banking Corp. (RCBC) has appointed its executive vice-president, Reginaldo Anthony B. Cariaso, as deputy chief executive officer (CEO) effective Jan. 1.
The Yuchengco-led bank’s board of directors approved Mr. Cariaso’s appointment along with changes to key group leadership positions in a meeting on Dec. 9, it said in a disclosure to the stock exchange on Tuesday. All the appointments are subject to the necessary regulatory approvals.
Mr. Cariaso is currently RCBC group head of operations. He will work alongside Eugene S. Acevedo, who was appointed as the bank’s president and CEO in July 2019, who is reportedly set to retire by mid-2025.
Mr. Acevedo in 2019 also served as deputy CEO for six months to his predecessor Gil A. Buenaventura.
RCBC Senior Vice-President 2 and Chief Risk Officer and Risk Management Group Head Juan Gabriel R. Tomas IV will take over the group head of operations post.
RCBC Executive Vice-President and Head of the Credit Management Group Bennett D. Santiago will replace Mr. Tomas as chief risk officer and head of the bank’s Risk Management Group.
Meanwhile, RCBC Executive Vice-President and Head of Corporate Banking Group Elizabeth E. Coronel was appointed as the Group Head of Institutional Banking, which will now be comprised of the Small and Medium Enterprise (SME) Banking and Corporate Banking Groups.
Anna Christina M. Vicente, senior vice-president 2 and the current head of the bank’s SME Banking group, will resign effective Jan. 1.
On the other hand, RCBC’s board also approved the secondment of Simplicio B. Dela Cruz, Jr., senior vice-president 1 and division head for SME Central & Eastern Visayas, to Rizal Microbank, Inc. (A Thrift Bank of RCBC) and his appointment as the thrift unit’s president and CEO starting Jan. 1.
“Ismael S. Reyes, currently the President & CEO of Rizal Microbank, will be recalled and will now report to the Office of the RCBC President & CEO to be responsible for coordinating the bank’s Retail and Microbank transformation efforts,” the listed lender said.
RCBC Senior Vice-President 1, Chief Audit Executive and Internal Audit Group Head Sheila Ricca G. Dioso has also been appointed as Chief Compliance Officer (CCO) and Head of Regulatory Affairs Group.
She will replace First Senior Vice-President Brent C. Estrella, who will report to RCBC’s Office of the President & CEO to handle Control and Governance transformation initiatives starting next year.
RCBC’s net income decreased by 37.01% year on year to P1.77 billion in the third quarter as its non-interest income was dragged down by foreign exchange losses.
This brought its net earnings for the first nine months to P6.22 billion, 31.12% lower than P9.03 billion in the same period last year.
RCBC’s shares dropped by P1.15 or 4.65% to end at P23.60 apiece on Tuesday. — A.M.C. Sy
