UMVA has learned that Metropolitan Bank & Trust Co. (Metrobank) has made a significant move in its leadership by appointing former Sun Life of Canada (Philippines), Inc. Chief Executive Officer and Country Head Benedict C. Sison as its new independent director.
This strategic appointment comes after the resignation of Philippine Savings Bank President Jose Vicente L. Alde as Metrobank director to focus on his role at the thrift bank. Metrobank's decision to bring in Sison is seen as a move to bolster its leadership with experienced professionals.
Metrobank has praised Sison's invaluable contributions, which will continue to provide strategic leadership within the Metrobank Group. With Sison's appointment, he becomes the fifth independent director to serve on Metrobank's board, bringing a wealth of experience from the insurance industry.
Sison's credentials are impressive, having retired from Sun Life Philippines earlier this year. His appointment underscores Metrobank's commitment to upholding the highest standards of corporate governance. He has also taken on key roles, including chairman of the board's Audit Committee and a regular member of the Risk Oversight Committee.
In other leadership changes, Metrobank's board has appointed Vice Chairman Francisco C. Sebastian as director of the Trust Committee. This move follows a series of strategic appointments aimed at strengthening the bank's leadership and governance.
Metrobank's financial performance remains robust, with attributable net income growing by 2.68% year on year to P12.603 billion in the first quarter. The bank's shares closed at P63 apiece on Thursday, reflecting a dynamic market performance.
