Olbes, who retires on Sept. 15 after 15 years with the lender backed by tycoon Frederick Dy, will act as senior advisor to the president and CEO during the handover.
“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,” said Sanjiv Vohra, president and CEO of Security Bank.
“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,” he added.
As CFO for five years, Olbes built a future-ready finance team and spearheaded initiatives across SB Rental Corp., SBM Leasing, SB Equities, and Security Bank Capital Investment Corp., while previously steering the wholesale banking segment until January 2020.
His departure signals a significant leadership handoff as Reyes, with 27 years of experience spanning Singlife Philippines, Diageo, Sony Global Services, Deutsche Bank, and prior service at Security Bank, steps in to guide the bank’s next transformation phase.
Reyes, a University of Santo Tomas graduate who also completed the Leading Sustainable Corporations Program at Oxford University, is expected to sharpen the bank’s focus on governance, process transformation, and growth.
The leadership changes come as Security Bank formalizes its wealth segment under senior vice president Jefferson T. Ko, who will lead the unit starting August 1 to capture opportunities in financial markets and wealth management.
—Edited by Miguel R. Camus
