Metrobank taps ex-Sun Life Philippines country head as independent director

METROPOLITAN Bank & Trust Co. (Metrobank) has appointed former Sun Life of Canada (Philippines), Inc. (Sun Life Philippines) Chief Executive Officer and Country Head Benedict C. Sison as its new independent director.

This came after the resignation of Philippine Savings Bank President Jose Vicente L. Alde as Metrobank director to focus on the thrift bank.

“His invaluable contributions over the past four years have been instrumental to Metrobank’s sustained success. He will continue to provide strategic leadership within the Metrobank Group,” Metrobank said.

Meanwhile, Mr. Sison, who retired from Sun Life Philippines earlier this year, is the fifth independent director to serve Metrobank’s board.

“A renowned veteran of the insurance industry, Mr. Sison’s appointment underscored the bank’s commitment to upholding the highest standards of corporate governance.”

Mr. Sison was also appointed as chairman of the board’s Audit Committee and a regular member of the Risk Oversight Committee.

Meanwhile, Metrobank’s board appointed Vice Chairman Francisco C. Sebastian as director of the Trust Committee, a seat previously held by director Anthony Paul C. Yap.

Mr. Sebastian’s previous role in the IT Steering Committee has now been assumed by Metrobank President and Director Fabian S. Dee.

Metrobank’s attributable net income grew by 2.68% year on year to P12.603 billion in the first quarter. Its shares closed at P63 apiece on Thursday, down 35 centavos or 0.55% from Wednesday’s finish. — Aaron Michael C. Sy