EastWest Bank names Reyes new president

Listed East West Banking Corp. has appointed seasoned banker Jesus Roberto Reyes as its new president replacing Antonio Moncupa Jr. who is a frontrunner in the race for the new Bangko Sentral ng Pilipinas governor.

Reyes was named president and deputy CEO of the Gotianunled bank while Moncupa who remains as CEO was promoted as vice chairman starting May 1.

“In its efforts to sustain its robust growth and double its total resources in the next few years, EastWest continues to look for opportunities to improve and enhance its work processes and further broaden and deepen its executive bench,” the bank said in a disclosure to the Philippine Stock Exchange (PSE).

Moncupa said the strengthening of the executive team of the bank forms part of the lender’s forward looking vision to meet the challenges of an increasing competitive landscape.

“A bank like East West is always looking at opportunities to beef up its executive bench. This step is essential and vital to support the effort to accelerate growth and serve our customers better,” he

Reyes said.

The listed bank also named Maria Rita Nisperos as senior vice president and head of marketing.

Reyes was appointed as CFO and head of treasury of Union Bank of the Philippines since January last year and served as senior executive vice president and treasurer since January 2012.

Prior to joining Union Bank, Reyes spent 10 years in Security Bank Corp. where he served as head of treasury and investment banking segment as well as HSBC where he was deputy treasurer from 1994 to 1999.

Union Bank president and COO Edwin Bautista said the bank’s board of directors has accepted the resignation of Reyes and has appointed Union Bank deputy treasurer Raquel Palang as acting treasurer.

“We are happy and honored that one of our senior leaders is set to become president of a major Philippine bank. This bank has shown steady growth and I believe that Bobby (Reyes) can continue this trajectory, especially with the experience and skills that he has honed. We wish him success in this new endeavor,” Bautista said.

Moncupa, 58, has steered EastWest Bank to one of the biggest banks in the country since taking over in January 2007. He has a double degree in Economics and Accounting from the De La Salle University and a Masters in Business Administration from the University of Chicago.

Before joining EastWest, he was executive vice president and CFO of the International Exchange Bank.

EastWest had grown at an annual compounded of growth rate of 25 percent in the last five years, one of the fastest growth rates in the industry, to bring its total resources to P292 billion by end 2016.