Philippine Veterans Bank names new COO

MANILA, Philippines - The Philippine Veterans Bank (PVB) has appointed professional banker Nonilo Cruz as chief operating officer.

Cruz brings with him more than 30 years of experience in banking and corporate operations with various local and multinational commercial banks where he rose from the ranks becoming a senior executive in a foreign bank branch in the Philippines.

As the new COO of Philippine Veterans Bank, Cruz is expected to strengthen the bank’s operational productivity and performance to ensure efficiency and profitability to serve the best interest of its stakeholders, customers, and its employees.

Cruz said the challenges offered by the bank is something that he could not refuse. “Reinvigorating the bank and developing new strategies are among the challenges.  But giving back the contributions of our war veterans and their families is a challenge I cannot refuse,” he said.

Prior to joining PVB, he served for more than 17 years as a pioneer senior executive of Australia and New Zealand Banking Group (ANZ), Manila, following a three-year stint as vice president of the Equitable Banking Corp. (now Banco de Oro).

During his term in ANZ, he led a team that elevated the bank’s standing to No. 2 and No. 1 arranger of syndicated loans in 2009 and 2010, respectively, and the top book runner of syndicated loans in both years.  Nilo was also part of a senior leadership team that scored in the opening of business and franchise plan in the country which led to ANZ’s ability to generate profits ahead of schedule.  In his last role as an investment banker, Nilo was made to account a significant portion of the bank’s annual revenues.

A holder of marketing management degree from the De La Salle University, Cruz earned his Master’s in Business Administration at Murdoch University of Australia’s Manila program and continues to specialize in various industry-oriented institutions.