Security Bank names new CEO

MANILA, Philippines — Security Bank Corp. has named a top executive of Mitsubishi UFJ Financial Group Inc. and former Citi country officer for the Philippines as its new president and chief executive officer replacing Alfonso “Yogi” Salcedo who is scheduled to retire on June 30.

Security Bank chairman Alberto Villarosa said the bank’s board of directors approved the appointment of MUFG co-head of Global Corporate Banking for Asia and Oceania Sanjiv Vohra as new president and CEO effective July 1.

“Sanjiv brings with him the experience that will support the enhancement of our BetterBanking commitment. He also brings with him a new perspective to our customer value proposition, as well as global best practices which will give a big push to our transformation and innovation journey towards becoming a world-class bank that goes beyond borders,” Villarosa said.

Villarosa said the organizational changes reflect Security Bank’s focus on ensuring the continuity of the overall business strategy formulation and execution.

“With the appointment of Sanjiv, the bank is manifesting the institution’s commitment to professionalism and to bringing in leaders who not only understand the Philippine market, but the global markets as well. The banking business is truly becoming globalized and cross-border transactions, partnerships and alliances are now becoming the new normal,” Villarosa said.

Vohra served as managing director and head of Asia Pacific corporate banking coverage at Deutsche Bank from December 2013 to August 2017. He also served as country executive of Royal Bank of Scotland from July 2013 to November 2013 after serving as Citi country officer at Citibank Philippines from 2006 to June 2013 after serving as managing director at Citigroup from December 2005 to June 2013.

Vohra was also managing director at Citibank from April 2002 to December 2005 after serving as director ABN AMRO Bank N.V. from January 1998 to April 2002.

“Sanjiv has deep experience in banking, having held a number of senior leadership positions in Asia, in Citibank, ABN AMRO Bank, the Royal Bank of Scotland, Deutsche Bank and MUFG Bank, as well as experience in the domestic market during his eight years as country head of Citibank Philippines. I am confident that he can bring Security Bank to the next level,” Villarosa said.

Vohra said in a statement he would be joining Security Bank at a time when it has built up its retail banking business as a strong and sustainable third business pillar under the brand promise and commitment of BetterBanking.

“The bank has made all the right moves in these last few years. I believe that Security Bank is in a very good position to take advantage of the growing domestic market, while making the most out of the synergies available through its strategic alliances, including the partnership with MUFG. I truly feel privileged in getting this opportunity to lead this franchise,” Vohra said.