Security Bank appoints JD Yap as CFO

SECURITY BANK CORP. has appointed its Executive Vice-President and Business Banking Segment Head John David “JD” G. Yap as its new chief financial officer (CFO) effective June 13, it said on Tuesday.

Mr. Yap will succeed Security Bank Senior Vice-President and CFO Allen Alexander P. Reyes, who is leaving the bank to “pursue other opportunities,” it said in a statement.

During the transition period, Mr. Yap will continue to oversee the bank’s Business Banking Segment on an interim basis, with governance and oversight arrangements to remain to ensure continuity and clear accountability during the period.

Existing Business Banking Segment leadership teams and operations will likewise continue as normal throughout the transition.

“JD has a strong record of building businesses, leading teams, and driving execution at scale,” Security Bank President and Chief Executive Officer Victor Lee Meng Teck said.

“His appointment reflects the bank’s continued focus on leadership continuity, disciplined growth, and long-term capability building.”

As CFO, Mr. Yap will lead the bank’s financial planning and analysis, finance strategy, regulatory and financial reporting, capital management, investor relations, sustainability, and related finance functions.

“He will help drive the bank’s focus on disciplined execution, balance sheet strength, and sustainable long-term growth,” Security Bank said.

Mr. Yap has over 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 organizations such as Standard Chartered Bank, Fullerton Financial Holdings, United Overseas Bank, and Grab Finance.

Meanwhile, the bank has also appointed Shuitsuro Komatsu as its new director to take the place of Masatoshi Komoriya, who left the bank for personal reasons, it said in a disclosure to the stock exchange.

It assigned Senior Vice-President and Retail Channels Group head Myla R. Untalan as Strategic Projects head.

Security Bank’s attributable net income went down by 4% to P2.704 billion in the first quarter due to trading and foreign exchange losses amid market volatility and higher provisions amid the Middle East conflict.

Its shares dropped by P1.50 or 2.29% to close at P64 each on Tuesday. — Aaron Michael C. Sy