• PBCOM recruited its next chief executive from Security Bank’s wholesale banking division.
• Ong brings nearly three decades of experience from Security Bank, UnionBank, Citibank and Deutsche Bank.
• Outgoing CEO Patricia May Siy oversaw PBCOM’s return to record earnings and its first dividend payout in 27 years.
Tycoon Lucio Co-backed Philippine Bank of Communications has named former Security Bank executive John Cary Ong as president and CEO-designate, bringing in a seasoned corporate banker from a larger rival to lead the lender’s next phase of growth.
Ong will formally assume the role after a transition period of at least three months and regulatory clearances, succeeding Patricia May Siy, who will continue leading the bank before transitioning to the board.
From wholesale banking
The appointment comes just weeks after Ong stepped down as head of wholesale banking at Security Bank, where he oversaw one of the bank’s key growth engines serving corporate, commercial and institutional clients.
Ong brings nearly 30 years of banking experience across some of the industry’s biggest names. Before joining Security Bank in 2020, he held senior positions at UnionBank, Citibank and Deutsche Bank, building expertise in corporate banking, treasury, transaction banking and trade finance.
At Security Bank, he oversaw a wholesale banking franchise that included corporate lending, deposits, leasing, investment banking and other institutional client businesses, while holding board and governance roles across several subsidiaries.
Legacy and transition
Ong succeeds Sir, who has led PBCOM since 2015 and helped transform the lender into one of the banking sector’s quiet turnaround stories.
Under her leadership, PBCOM regained its universal banking license in 2023, posted a record net income of P2.5 billion in 2025 and paid its first cash dividend in 27 years.
Broader management reshuffle
Alongside the leadership transition, PBCOM approved a series of interim appointments across key operating units.
Expedito Garcia Jr. was named officer-in-charge of the operations group, Sherwin Ng was appointed officer-in-charge of the branch banking group, while Arthur Gonzales was tapped to oversee the Visayas and Mindanao regions on an interim basis.
—Edited by Miguel R. Camus
