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Manila Bulletin devider Business devider Banking & Finance devider Security Bank CFO Edu Olbes to retire; Allen Reyes named successor

Security Bank CFO Edu Olbes to retire; Allen Reyes named successor

Published Jul 29, 2025 02:05 pm
Security Bank Corp. announced that its Chief Financial Officer, Eduardo M. Olbes, will retire on Sept. 15, 2025, but, his replacement, Allen Alexander P. Reyes, will be onboard by Aug. 11, 2025, to facilitate the transition.
In a disclosure to the Philippine Stock Exchange, the bank said that, after 15 years with Security Bank, Executive Vice President and CFO Olbes will avail of early retirement.
Starting Aug. 11, he will serve as Senior Advisor to the President and CEO, supporting the transition to the new CFO and Reyes will assume his role also on the same date.
“We thank Edu for his exceptional leadership and years of dedicated service. His strategic insight and financial stewardship have helped shape the solid foundation we stand on today,” the bank said.
“We’re pleased to welcome Allen back to Security Bank—his strong financial expertise and leadership experience will help drive the next phase of our transformation,” said Security Bank President and CEO Sanjiv Vohra.
“(Olbes) has been a valued leader at Security Bank, serving as CFO for the past five years, during which he transformed the Finance organization and built a strong, future-ready team,” the bank said.
It added that, “His leadership extended beyond Finance, driving enterprise-wide initiatives that deepened the Bank’s commitment to sustainable finance and embedded ESG principles into operations and decision-making.”
Olbes also held key leadership roles across the Bank’s subsidiaries—SB Rental Corporation, SBM Leasing, SB Equities, and Security Bank Capital Investment Corporation—where he helped guide strategic direction and strengthen governance.
Prior to his CFO role, he served as Head of the Wholesale Banking Segment until January 2020.
Meanwhile, Reyes brings 27 years of experience from Singlife Philippines, Diageo, Sony Global Services, and Deutsche Bank, and had also previously served at Security Bank.
He has deep expertise in corporate and business finance, process transformation, governance, business analysis, and project management and holds a BS in Accountancy from the University of Santo Tomas and completed the Leading Sustainable Corporations Program at Oxford University.
In a separate development, Security Bank announced the formal establishment of its Wealth Segment, effective August 1, 2025, with Jefferson T. Ko as Senior Vice President and Head.
Ko brings 28 years of experience in financial markets and wealth management, having held leadership roles at China Bank, NORD/LB, Maybank, DZ Bank, and ING across Singapore and the Philippines. He joined Security Bank in 2022 and currently leads Investment Solutions.
“We also congratulate Jeff on his new role and look forward to the continued growth of our Wealth business under his leadership,” said Vohra.

Related Tags

Security Bank Corporation Sanjiv Vohra Eduardo M. Olbes Allen Alexander P. Reyes Jefferson T. Ko
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