Edeza named Bank of Commerce prexy, CEO

MANILA, Philippines - Bank of Commerce (BoC) has appointed former National Treasurer Sergio G. Edeza as its new president and chief executive officer, replacing Virgilio Martin Goquingco who has resigned effective June 13.

Edeza is currently senior vice president and treasury head of San Miguel Corp. (SMC), whose units San Miguel Properties Inc. (SMPI) and SMC Retirement Plan acquired a majority stake in BoC for P2 billion in 2007.

Edeza has been involved in banking and finance for decades, both for the public and private sectors. He served as National Treasurer from 2001 to 2004, and director of the then Central Bank treasury department.

He later served as senior executive for Rizal Commercial Banking Corp. (RCBC) and Metropolitan Bank and Trust Co. (Metrobank).

Goquingco cited family reasons for leaving the company. In his letter to the BoC board of directors, he said: “It has been an honor and privilege to have had the opportunity to work for the esteemed Bank of Commerce and the SMC Group. It has been an experience which I will always cherish and look at in the past as having been truly memorable and gratifying both professionally and personally.”

In his statement, Edeza said he wants “to take the fast-growing bank to even greater heights in its quest to become one of the country’s leading commercial banks.”

BoC, ranked among the top 20 commercial banks in the country, currently offers a wide range of banking and other financial products and services including traditional deposit products, corporate banking, consumer banking, treasury, asset management, trust services, trade and credit card services.