The board of directors of RCBC announced yesterday the appointment of Eugene Acevedo as Deputy CEO starting January 2 next year.
His appointment is preparatory to the retirement of incumbent RCBC President and CEO Gil A. Buenaventura whose three-year contract with the bank ends on June 30, 2019.
Acevedo brings with him over 30 years of solid banking experience gained from local and multinational banks including: Union Bank of the Philippines, Philippine National Bank, Citigroup, Citibank N.A. Philippines, Citibank N.A. Singapore, and Citibank N.A. Hong Kong. He has expertise in strategy formulation, business development, origination, relationship building, cost reduction, and risk control. His exposure focused on Corporate Banking, Retail Banking, Treasury, Trust, Consumer Finance, Marketing, Credit, and Remittance.
Buenaventura joined RCBC at the height of the Bangladesh cyber heist issue with a mandate to stabilize and improve its operations, strengthen its internal systems and procedures, and meet regulatory requirements that would allow the bank to provide more competitive products and services.
Buenaventura was able to maintain the bank’s profitability despite the challenges in the market and regulatory environment. The bank also raised additional capital from a successful P15B stock rights offering making it better capitalized and well positioned to sustain its growth.