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Business

EastWest Bank names new president, CEO

Lawrence Agcaoili - The Philippine Star
EastWest Bank names new president, CEO
Jacqueline Fernandez
STAR / File

MANILA, Philippines — East West Banking Corp. has named its first female president to replace long-time CEO Antonio Moncupa Jr. who is scheduled to step down as bank executive at the end of the year.

The bank has appointed executive vice president and chief lending officer Jacqueline Fernandez as president effective July 1 and Jerry Ngo as CEO effective Jan. 1 next year.

Fernandez was a key figure in steering EastWest to become a major force in consumer lending for the past 16 years, leading the bank to top positions in auto and personal loans.

Fernadez also steered the bank to become the sixth largest credit card issuer. She also helped consolidated EastWest Bank’s lending activities, including corporate lending.

Before joining the Gotianun-led bank in 2006, Fernandez held various roles in credit risk and remedial management in Standard Chartered Bank and Far East Bank and Trust Co.

Ngo, a seasoned international banker with 30 years of experience, is serving as strategy consultant for the Gotianun’s flagship company, Filinvest Development Corp. (FDC).

Ngo served as group chief finance officer and independent board director of Saratoga Investama Sedaya, one of Indonesia’s earliest and largest investment holding companies with a current market capitalization of $3 billion.

Prior to this, Ngo was the institutional banking head and executive director for ANZ Bank Indonesia, and served as managing director for Vietnam, Laos, and Cambodia at Standard Chartered Bank.

Ngo also previously worked for Citibank where he held various roles in product management, sales, and operations in Manila, South Korea, and Singapore.

EastWest chairman Jonathan Gotianun said with the proven track record of both executives, the listed bank sees further success in delivering an even better customer experience as it continues to accelerate its digital transformation programs.

“We are pleased to announce these top management developments as we look forward to EastWest becoming an even more relevant participant in the Philippine banking industry,” Gotianun said.

Moncupa, who has been the bank’s CEO for the last 16 years, will remain as vice chairman of the board of directors.

“We thank Mr. Moncupa for his leadership that brought the bank to where it is now.  While we understand his desire to relinquish his executive role and give some time for his other interests, we look forward to continuously hear his insights in the board of directors,” Gotianun said.

Moncupa is also the president of the Bankers Association of the Philippines (BAP).

EAST WEST

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