Security Bank announces new CFO and Head of Wealth Segment

​Security Bank Corporation (PSE: SECB), a leading Philippine universal bank, announced key leadership appointments.

After over 15 years with the Bank, Eduardo M. Olbes, EVP and Chief Financial Officer, will avail of early retirement, effective September 15, 2025. Starting August 11, he will serve as Senior Advisor to the President & CEO, supporting the transition to the new CFO.

​Edu has been a valued leader at Security Bank, serving as CFO for the past five years, during which he transformed the Finance organization and built a strong, future-ready team. His leadership extended beyond Finance, driving enterprise-wide initiatives that deepened the Bank’s commitment to sustainable finance and embedded ESG principles into operations and decision-making. He also held key leadership roles across the Bank’s subsidiaries—SB Rental Corporation, SBM Leasing, SB Equities, and Security Bank Capital Investment Corporation—where he helped guide strategic direction and strengthen governance. Prior to his CFO role, he served as Head of the Wholesale Banking Segment until January 2020.

Effective August 11, Allen Alexander P. Reyes will assume the role of Chief Financial Officer. He brings 27 years of experience from Singlife Philippines, Diageo, Sony Global Services, and Deutsche Bank, and previously served at Security Bank. Allen has deep expertise in corporate and business finance, process transformation, governance, business analysis, and project management. He holds a BS in Accountancy from the University of Santo Tomas and completed the Leading Sustainable Corporations Program at Oxford University.

In a separate development, Security Bank announced the formal establishment of its Wealth Segment, effective August 1, 2025, with Jefferson T. Ko as Senior Vice President and Head. Mr. Ko brings 28 years of experience in f inancial markets and wealth management, having held leadership roles at China Bank, NORD/LB, Maybank, DZ Bank, and ING across Singapore and the Philippines. He joined Security Bank in 2022 and currently leads Investment Solutions.

“We thank Edu for his exceptional leadership and years of dedicated service. His strategic insight and financial stewardship have helped shape the solid foundation we stand on today. We’re pleased to welcome Allen back to Security Bank—his strong financial expertise and leadership experience will help drive the next phase of our transformation,” said Sanjiv Vohra, President & CEO of Security Bank. “We also congratulate Jeff on his new role and look forward to the continued growth of our Wealth business under his leadership.”

Security Bank is a private domestic universal bank in the Philippines with total assets of PHP1.1 trillion as of March 31, 2025. The Bank has been operating for 74 years since it was established in 1951. To date, Security Bank has a total of 357 branches and 1,150 ATMs, Cash Recycler Machines (CRMs), and Cash 360 machines.

In 2025, Security Bank was awarded Best for High-Net-Worth in the Philippines by Euromoney/Asiamoney for five consecutive years; Best Investor Relations Company (Philippines), Sustainable Asia Award, Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations) and Best Investor Relations Professional (Philippines) for five consecutive years, as well as Best Corporate Communications by Corporate Governance Asia; Best Commercial Bank for SMEs (Domestic) by FinanceAsia; SME Bank of the Year – Philippines, Credit Card Initiative of the Year – Philippines, Mobile Banking & Payment Initiative of the Year – Philippines, External Environmental Initiative of the Year – Philippines, Consumer Finance Product of the Year – Philippines, Philippines Domestic Cash Management Bank of the Year, and Philippines Domestic Trade Finance Bank of the Year by Asian Banking & Finance.

In 2024, Security Bank was awarded Best for High-Net-Worth in the Philippines by Euromoney/Asiamoney; The Philippines' Best Bank for Corporates by Euromoney/Asiamoney for two consecutive years; Best Branch Digitisation Implementation for the Mosaic Voyager (MV) Tellering and Lobby Management System by The Asian Banker; three awards Credit Card Initiative of the Year, Sustainability Initiative of the Year, and ESG Program of the Year (Bronze) for Security Bank Wave Mastercard by Asian Banking and Finance; and Best Investor Relations Company (Philippines), Sustainable Asia Award, Asia’s Best CEO (Investor Relations), Asia’s Best CFO (Investor Relations) and Best Investor Relations Professional (Philippines) by Corporate Governance Asia; and 3 Golden Arrow Recognition for corporate governance excellence by the Institute of Corporate Directors (ICD).

In 2023, Security Bank was awarded Best for Mass Affluence/HNW in the Philippines by Asiamoney; Best Credit Card Product in the Philippines (for Security Bank’s Complete Cashback Platinum Mastercard) by The Asian Banker during the 2022 Asian Banker Excellence Awards; Best Retail Bank in the Philippines by Alpha Southeast Asia; Market Leader in Corporate Social Responsibility (CSR) by Euromoney; Market Leader in Diversity & Inclusion by Euromoney; Best Bank for Diversity and Inclusion by Asiamoney. The Bank’s major citations in 2021 are: Philippines’ Best Bank by Euromoney; Best for HNWs (High Net Worth Clients) in the Philippines by Asiamoney; Best Retail Bank in the Philippines by Alpha Southeast Asia; and Best Culture of Learning and Diversity Champion by LinkedIn Talent Awards.