UnionBank names new CEO, Ortiz stays as chairman

The board of directors of Union Bank of the Philippines (UBP) recently approved the appointment of bank President Edwin R. Bautista as Chief Executive Officer (CEO), effective January 1, 2018. He will replace Justo A. Ortiz, Ph.D., who has been UBP’s CEO since 1993. Ortiz continues as chairman of the board of the Bank. Ortiz, as co-author of UnionBank’s major strategic development plans, will continue to monitor successful execution of these plans. As CEO for 24 years, Ortiz steered UnionBank to new heights, capitalizing on technology and carving out targeted markets. Incoming CEO Bautista, who has served as the bank’s President and Chief Operating Officer since January 1, 2016, has a superior track record in banking, spanning more than 25 years of experience. Since joining UnionBank in 1997 as senior vice president, he has driven the growth of the bank’s Transaction Banking, Commercial Banking, Operations and Consumer Finance centers. In 2006, he served as President of IBank, which was acquired by UnionBank, until its merger with the bank. Prior to UnionBank, Bautista headed Citibank Philippine’s Global Transaction Services Group. Before banking, Bautista joined Procter & Gamble Philippines. He is a product of the Harvard Business School Advanced Management Program and De La Salle University, where he received his Mechanical Engineering Degree while garnering the prestigious Bro. Gabriel Connon Award.