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MANILA, Philippines – The Bank of the Philippine Islands (BPI) has appointed Ayala group corporate, consumer and investment banking veteran, José Teodoro “TG” Limcaoco, as its new president and CEO effective April 22, 2021.
Limcaoco, 58, current CFO of parent conglomerate Ayala Corp., will succeed Cezar “Bong” Consing, who reached retirement age in 2019, but agreed to extend his term to ensure a smooth leadership transition.
“TG is an excellent choice to lead BPI,” Consing, 61, said in a press release on Wednesday (December 16).
“Before his many positions at Ayala, he ran the bank’s investment banking business and, later, our retail loan business. He has been a banker for most of his career, and his strong technological bent and commitment to sustainability will be critical to the BIS of the future, ”Consing said.
This is seen as a fitting homecoming for Limcaoco, who had been Executive Vice President of BPI, President of BPI Capital (2007-2010) and President of BPI Family Savings Bank (2010-2015) before assuming his current roles at Ayala.
The group considers him a “proven leader and expert in the industry”.
Parallel to his duties at Ayala, he has been a member of the BPI board since February 2019 and a member of the executive committee since April 2019.
In addition, he had been in charge of the insurance businesses of BPI, Ayala Life and Ayala Plans, and had primary oversight of BPI Philam and the non-life business of BPI.
Limcaoco holds a Bachelor of Science in Mathematics (Honors Program) from Stanford University and an MBA from the Wharton School of the University of Pennsylvania.
TSB
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