MANILA, Philippines — Security Bank Corp. has appointed executive vice president John David Yap as its new chief financial officer, tapping the head of one of its key growth businesses to oversee the bank’s finance strategy and capital management.
In a disclosure, Security Bank said Yap’s appointment would take effect on June 13.
Yap will succeed senior vice president Allen Reyes, whose last working day with the bank will be on June 12 as he leaves to pursue other opportunities.
Yap currently heads Security Bank’s Business Banking Segment, which the bank described as one of its core growth businesses. The segment covers the bank’s small and medium enterprise (SME) franchise, an area that has become increasingly important for lenders seeking to expand beyond large corporate clients.
Security Bank said Yap led the expansion of its SME franchise while strengthening the segment’s capabilities in sales, analytics, digital and portfolio management.
“JD has a strong record of building businesses, leading teams, and driving execution at scale,” Security Bank president and CEO Victor Lee said.
“His appointment reflects the Bank’s continued focus on leadership continuity, disciplined growth, and long-term capability building,” Lee said.
As CFO, Yap will lead Security Bank’s financial planning and analysis, finance strategy, regulatory and financial reporting, capital management, investor relations, sustainability and related finance functions.
He will also help steer the bank’s focus on disciplined execution, balance sheet strength and sustainable long-term growth.
Yap has more than 25 years of experience across banking, finance, analytics, business development and risk management.
Before joining Security Bank, he held senior leadership roles in Singapore with Standard Chartered Bank, Fullerton Financial Holdings, United Overseas Bank and Grab Finance.
Security Bank said Yap would continue to oversee the Business Banking Segment on an interim basis during the transition period.
The bank said governance and oversight arrangements would remain in place to ensure continuity and clear accountability, while existing leadership teams and operations of the segment would continue as normal.
Security Bank is one of the country’s largest universal banks, with total assets of P1.2 trillion as of end-March. It operates a network of 390 branches and 666 ATMs, cash recycler machines and cash acceptance machines nationwide.