Security Bank Corp. has appointed Executive Vice President John David “JD” Yap as its new chief financial officer effective 13 June, as the bank continues efforts to strengthen leadership continuity, improve returns, and sustain growth momentum.
The bank said in a Tuesday statement that Yap will succeed Senior Vice President Allen Reyes, whose last working day with the bank will be on 12 June, as he leaves “to pursue other opportunities.”
Yap currently heads the bank’s Business Banking Segment, one of Security Bank’s core growth businesses, where he led the expansion of its SME franchise and strengthened capabilities across sales, analytics, digital, and portfolio management.
As CFO, Security Bank said Yap will oversee the bank’s financial planning and analysis, strategy, as well as regulatory and financial reporting, capital management, investor relations, and other related finance functions.
“JD has a strong record of building businesses, leading teams, and driving execution at scale,” said Security Bank President and Chief Executive Officer Victor Lee. “His appointment reflects the Bank’s continued focus on leadership continuity, disciplined growth, and long-term capability building.”
Yap brings more than 25 years of experience in banking, finance, analytics, business development, and risk management. Before joining Security Bank, he held senior leadership roles at Standard Chartered Bank, Fullerton Financial Holdings, United Overseas Bank, and Grab Finance in Singapore.
The bank said Yap will continue overseeing the Business Banking Segment on an interim basis during the transition period, while existing leadership teams and operations remain in place.
Yap’s appointment follows recent leadership changes at the bank. Last month, shareholders elected Michael S. Chua and Mark Dennis Y.C. Joven to the Board of Directors, replacing Jikyeong Kang, whose term had lapsed, and Napoleon L. Nazareno, who passed away in March.
Alongside the board changes, the bank also earlier announced Lucose T. Eralil, Executive Vice President and Chief Operating Officer, will complete his contract on 30 June 2026. Meanwhile, effective 1 May, Patrick Meneses assumed an expanded role as Chief Data and Technology Officer, reflecting the bank’s focus on operational continuity and digital transformation.
The bank reported that pre-provision operating profit rose 24 percent year on year to P7.5 billion in the first quarter, driven by disciplined cost control and steady income growth. Total revenues reached P17 billion, up 10 percent from a year earlier, while net income climbed to P2.7 billion, increasing 6 percent quarter on quarter.