It is not every day that conglomerate head Jaime Augusto Zobel de Ayala addresses the employees of an Ayala company directly. But the impending leadership change at Bank of the Philippine Islands prompted just such a message. In a letter to BPI staff on the morning of Thursday, Oct. 22, 2026, the bank’s chair personally announced that Maria Cristina “Ginbee” Go would succeed Jose Teodoro “TG” Limcaoco as president and CEO in April 2027. He thanked Limcaoco for five years of leadership, endorsed Go’s credentials and assured employees of an orderly transition. The unusual communication underscored the importance Ayala places on succession at one of the country's biggest commercial banks.
This transition reflects the board's commitment to ensure that the bank will continue along the path of stability and growth, and most importantly, relevance to our communities. We are grateful for the solid foundations that TG has established at this juncture in the bank’s history, likewise, building off the contributions of the many leaders that have come before.
Over the next several months, TG and Ginbee will work closely together to ensure a smooth transition. We will use this period to both continue ongoing and embark on new initiatives for the benefit of our customers, employees, shareholders, and communities.
TG has been instrumental in shaping BPI to what it is today, and we will carry forward many of his contributions along our journey. As our president and CEO, BPI saw a period of significant transformation across digital, financial inclusivity, and sustainability. BPI is now among the country’s most trusted and resilient financial institutions. However, what I believe is TG’s legacy is leading from the front with integrity, dynamism, and a genuine concern for people both within the Bank and outside of it. His leadership and example have now become an indispensable part of our culture and are defining factors that set a BPI Unibanker apart from the rest. On behalf of the board, my deepest gratitude for his outstanding service and contributions to BPI.
We are grateful that following this transition, TG will continue to share his wisdom and experience as a member of our board of directors. I have also asked him to provide valuable guidance to Ayala’s other operating companies in senior governance roles, which we will announce in due course.
I am delighted that Ginbee will succeed TG in leading BPI. Throughout her more than two decades with the bank, Ginbee has earned the respect and trust of all of us in the Ayala Group, and across BPI and the banking industry. I am proud that BPI has become a more relevant institution to our clients through her many contributions in retail banking, digital transformation, and in developing the next generation of Unibankers. I am confident BPI will be in excellent and steady hands given her deep understanding of the financial sector and the Filipino consumer, and proven ability to lead through disruption. As CEO of BPI, Ginbee will join the Ayala Group management committee, and lend her expertise to the governance and growth of Ayala.
The next few months mark a historic moment for the bank and for all Unibankers. Our mission and values will be our driving force through this period, much the same way that they have guided BPI over the last 175 years. Moving towards this new step in our collective journey, my hope is that we can continue to work together to relentlessly and responsibly pursue stakeholder relevance, while making tangible contributions to our host communities and the country.
I believe that leadership transitions provide us with rare opportunities to both look at what has come before, while also embracing the things that have yet to come. As a company with a history of reinvention and longevity, we have always encouraged transitions as a central principle in building enduring institutions. Constant renewal has always enabled us to be relevant to the stakeholders that we serve.
TG has brought BPI to tremendous new heights as CEO over the past five years, and we are grateful for the strong platform that we will now be building upon. Likewise, I am excited for the new prospects ahead under Ginbee’s stewardship. Amidst some volatility in the global and domestic environment, there are notable opportunities, particularly as the Filipino consumer sector grows, becomes more sophisticated, and seeks a trusted partner in achieving financial stability and success.
I trust that BPI will continue to be that reliable partner. And I hope that we will remain committed to our mission to build a better country through the families and communities that we touch.
I ask for your full support as TG and Ginbee embark on this transition. May we all continue on this path of dedication to excellence and meaningful, heartfelt service to our customers and communities.
Thank you for all that you do to make BPI an institution we can be proud of.
Warm regards,
(signed)
Jaime Augusto Zobel de Ayala
— Edited by Daxim L. Lucas
