Metropolitan Bank & Trust Company (Metrobank) has appointed former Sun Life Philippines President and Country Head Benedict Sison as an independent director following the resignation of Philippine Savings Bank (PSBank) President Jose Vicente Alde from the board.
In a Thursday disclosure to the local bourse, the bank said the board accepted Alde’s resignation during a regular board meeting held on 20 May, with the resignation taking effect immediately. Metrobank said Alde stepped down to focus on his responsibilities as president of PSBank, the group’s consumer and retail banking arm.
“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,” the bank said.
Sison previously served as president and CEO of Sun Life Philippines Inc., where he led the insurer for more than 15 years before retiring in January 2026. Under his leadership, Sun Life’s client base expanded from 5 million in 2018 to 6.2 million as of end-September 2025.
The insurer also strengthened its position in the local insurance industry through sustained growth in assets, premiums, and clientele while expanding its digital and wealth management capabilities.
Sun Life earlier said Sison would continue serving as strategic adviser and chairman of Sun Life Philippines Holding Company and the Sun Life Foundation until 31 December this year to ensure a smooth leadership transition.
Apart from heading Sun Life Philippines, Sison also held leadership roles across the Sun Life group, including serving as country head for the Philippines and participating in regional initiatives within the insurer’s Asia operations.
“A renowned veteran of the insurance industry, Mr. Sison’s appointment underscores the Bank’s commitment to upholding the highest standards of corporate governance,” Metrobank said.
The leadership changes came following the release of first-quarter earnings reports, where Metrobank and its subsidiary posted contrasting results.
Metrobank reported a net income of P12.6 billion in the first quarter of 2026, up around 2.4 percent year on year from P12.3 billion in the same period last year. The bank also said its non-performing loan (NPL) coverage ratio stood at 137.1 percent as it continued building reserves against potential risks.
Meanwhile, PSBank reported a 22-percent decline in first-quarter earnings, which it attributed to higher loan provisioning. The thrift bank said provisions surged 73 percent to P716 million as it strengthened buffers against potential credit risks arising from the Middle East conflict’s impact on the Philippine economy.
Alongside the board changes, Metrobank also approved the reconstitution of several board-level committees effective 20 May.
Under the new committee assignments, Sison was appointed chairman of the Audit Committee and regular member of both the Related Party Transactions Committee and the Risk Oversight Committee.
Metrobank also named Vice Chairman Francisco C. Sebastian to the Trust Committee seat previously held by director Anthony Paul C. Yap, while President and Director Fabian S. Dee assumed the IT Steering Committee seat formerly occupied by Sebastian.