Security Bank names new directors

MANILA, Philippines — Security Bank Corp. yesterday announced the election of two new directors representing strategic partner MUFG Bank Ltd. (MUFG) during its recent Annual Stockholders Meeting.  SBC also announced the designation of a new vice chairman during the organizational meeting of the board of directors.

The stockholders of SBC elected MUFG nominees Hiroshi Masaki and Takeshi Takeuchi as directors to occupy the two seats held by the largest bank in Japan.  Hiroshi Masaki is currently the executive officer and head of the planning office for Asia of MUFG and a balikbayan to SBC, having served as SVP and deputy head of the alliance segment from 2016 to 2018.  Meanwhile, Takashi Takeuchi is currently the deputy head and managing director of the internal audit division of MUFG Bank and managing director of internal audit for the Americas of MUFG Union Bank.

The two newly elected directors will replace Takahiro Onishi and Masaaki Suzuki.

Likewise, Cirilo Noel was appointed vice chairman, together with Anastasia Dy. Noel was first elected as director in April 2018 and currently serves as chair of the finance committee, vice chair of the executive committee and member of the audit and transformation committees.

Security Bank has a total of 309 branches and 839 ATMs nationwide as of March 31. In 2016, Security Bank and MUFG entered into a strategic partnership wherein the latter bought a 20 percent stake in the bank to provide long-term funding and create business collaboration opportunities.