THE PRESIDENT and chief executive officer (CEO) of the digital banking arm of Union Bank of the Philippines, Inc. (UnionBank) will step down by August, its listed parent said on Tuesday.
UnionDigital Bank President and CEO Henry R. Aguda will leave his post effective Aug. 1 after the online lender’s board of directors accepted his resignation, UnionBank said in a disclosure to the stock exchange.
Mr. Aguda will be replaced by Danilo “Bong” J. Mojica II, who is currently a director at UnionDigital.
“Mojica brings with him over 35 years of local and international C-level corporate and consulting experience in various fields and industries, like FMCG (fast-moving consumer goods), airline, telecommunications, financial services and in financial technologies,” the bank said.
“We respect Henry’s decision to pursue opportunities that are more aligned to his personal development goals, and we wish him the best. Our appointment of Bong, who is close to UnionDigital’s business and operations as a board director, will ensure continuity and the uninterrupted execution of the bank’s plans for growth and its strategic initiatives,” UnionDigital Board of Directors Chairman Justo A. Ortiz said.
Mr. Aguda will also leave his post as UnionBank senior executive vice-president, the listed lender added.
“This was also accepted by the UnionBank Board and will be effective Oct. 01, 2024, to allow Aguda to have enough time for an effective turnover and transition to Bong Mojica as UnionDigital President and CEO successor,” it said.
UnionDigital is one of the six licensed digital banks in the country.
Its parent UnionBank saw its net income decrease by 78.06% to P1.98 billion in the first quarter due to one-time integration costs related to its acquisition of Citigroup, Inc.’s consumer business in the Philippines.
The listed lender’s shares went up by 30 centavos or 0.87% to close at P34.80 apiece on Tuesday. — AMCS
