These three names—Abet, Eric, and Edwin—represent just a few bankers who, I believe, have made their mark and left an indelible impression on the banking industry in their own distinct and charming ways.
Aside from this, all three have one common denominator: they're Citibankers who reached the top of their respective careers. And from what I've learned, there’s a strong bond among Citibankers, built over time based on mutual trust and respect.
For clarity, I’m referring to the late chairman of Security Bank Corporation (SECB), Alberto Villarosa; retired Deutsche Bank Philippines Country Head, Enrico “Eric” Cruz, who now sits on the expanded 15-member board of SECB; and Union Bank President and Chief Executive Officer, Edwin Bautista.
Known as Abet to his friends and colleagues, the late Mr. Villarosa was a doting father both to his family and to the bank, which he shepherded until he passed away over a year ago. I’m sure he went straight to heaven, being a devout Catholic and a Knight Commander of the Equestrian Order of the Holy Sepulchre.
Ordo Equestris Sancti Sepulcri Hierosolymitani in Latin, the Equestrian Order of the Holy Sepulchre is a Catholic order of knighthood under the protection of the Holy See, with no less than the Pope as the sovereign of the order. It is an internationally recognized order of chivalry.
Like most bankers, Mr. Villarosa was an avid golfer, which reminds me of the first governor of the revitalized Bangko Sentral ng Pilipinas, the late Gabriel C. Singson, who once told me that being on the green is an indication that the peso is strong and the banking system is stable. This was during his time, when the local currency would gyrate against the US dollar.
Now, the talk on the Sta. Elena fairways during the recently held Abet Villarosa Golf Tournament was that Abet was a first-rate golfer, having earned the distinction of representing Canlubang Golf and Country Club in the interclub Carlsberg Golf Tournament. In the recent past, there used to be a Carlsberg Philippine Masters, San Miguel/Coca-Cola Philippine Masters, San Miguel Beer Philippine Masters, and Ericsson Philippine Masters.
Mr. Villarosa was such an inspiration that SECB President and CEO Sanjiv Vohra, the first-ever foreigner to steer the bank, described him as an integral part of the bank’s growth story. This former country manager of Citibank Philippines wholeheartedly acknowledged the leadership of Mr. Villarosa, which has shaped, defined, and brought the financial institution to be among the top leading players in the industry.
The deep connection among Citibankers is such that Mr. Villarosa invited Mr. Cruz to join SECB as an independent director shortly after the latter's retirement in 2019 as chief country officer of Deutsche Bank Philippines. Both gentlemen were mentored by Mr. Jose Facundo, the president and CEO of Citytrust Banking Corp., the retail arm of Citibank Philippines that was acquired by Bank of the Philippine Islands in 1996.
And of course, the relationships and career paths of these former Citibankers are almost always intertwined and sometimes parallel. With his retirement drawing near, the latest gossip I’ve heard along the Union Bank corridors is that Mr. Edwin Bautista may possibly move to a lender located on Diosdado Macapagal Avenue along the Roxas Boulevard reclamation area. He will be succeeded by Ana Aboitiz-Delgado come January 2025.
Some months back, Mr. Cruz, along with retired Chairman of EastWest Banking Corporation turned gentleman-farmer, Antonio Moncupa, were also listed among the prospective candidates for president of Philippine National Bank.
This corner of the banking corridor promises to keep you updated on the developments.
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