British bank names first Filipino CEO
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Standard Chartered Bank, a British financial services company and the oldest international bank in the Philippines, has announced the appointment of Lynette Ortiz, currently managing director and head of international corporates and financial institutions, as the new chief executive for the Philippine branch effective Oct. 1, 2016.
Ortiz will replace Anirvan Ghosh Dastidar, who has been appointed as the new chief executive of Standard Chartered Brunei effective same date.
chief executive Lynette Ortiz
Ortiz returned to Manila in June this year from her regional posting as head of capital markets for Asean based in Singapore. She has gained reputation as a highly regarded banker both locally and within the region having led a number of landmark transactions for Asean issuers, in both domestic and international markets, in recent years.
Prior to assuming her regional role, Ortiz was financial markets and capital markets head for the Philippines. She has over 25 years of solid banking experience starting with Citibank in New York, and has held senior roles in risk management, treasury, corporate finance and capital markets in foreign and local institutions.
Coming back to lead the Philippine branch is both pride and tall order for Ortiz. In May, Standard Chartered announced an agreement with EastWest Bank for the transfer of retail banking business which is expected to be completed within the year.
Post the retail business transfer, Standard Chartered in the Philippines will be operating as a purely corporate and institutional bank. “Our corporate and institutional banking business in the Philippines has built a strong track record as a leader in providing client-centered value propositions that are innovative and transformative. Over the recent years, the business has seen sustained growth in securing mandates for capital markets, corporate finance and transaction banking segments,” Ortiz said.
Standard Chartered takes pride in having Ortiz as the first female Filipino CEO for its Philippine branch. The bank said that under the leadership of someone with such caliber and solid background in corporate banking, financial and capital markets, it is confident of Ortiz as its new country head.
“Post the retail business transfer, Standard Chartered in the Philippines will be operating as a purely corporate and institutional bank.”
“Her appointment demonstrates the bank’s recognition of a local talent that is truly global in quality and competency. Given Lynette’s extensive banking experience, knowledge of the markets and strong client relationships, she will play a key role in delivering growth momentum and further deepen our corporate and institutional banking business in the Philippines,” said Dastidar, the outgoing chief executive.
Ortiz is expected to lead SCB Philippines’ efforts to build its clout in the developing and growing capital markets in Asean, in a bid to support the financing and investment requirements of its clients in the Philippines, including business players who are actively bidding for major infrastructure projects in the public-private partnership program.
Standard Chartered has been present in the Philippines for over 144 years, and is the oldest international bank in the country. The bank views the Philippines as a strategic part of its Asean network, and it represents a key part of the bank’s unique international network.
Standard Chartered has played a key role in helping fuel the Philippines’ trade, economy and markets, participating in the PPP projects, as one of the book-runners in the Republic’s sovereign bond issuances, developing and growing capital markets, acting as a sovereign ratings advisor and supporting corporate clients’ growth into international markets.
“The work that we have done and continue to do both domestically and overseas with large corporates in the country and with the Republic itself is testament to the importance of the market to us, and of the differentiated value that we bring to it,” said Ortiz.
Questions & Answers
Q.What is the new strategic focus for Standard Chartered Bank in the Philippines under Lynette Ortiz?
What is the new strategic focus for Standard Chartered Bank in the Philippines under Lynette Ortiz?
The bank will operate purely as a corporate and institutional bank in the Philippines. This follows an agreement with EastWest Bank for the transfer of its retail banking business, expected to be completed within the year.
Q.When did Lynette Ortiz return to Manila before this appointment?
When did Lynette Ortiz return to Manila before this appointment?
Lynette Ortiz returned to Manila in June of the same year as her appointment. She had been based in Singapore as head of capital markets for Asean prior to her return.
Q.Where will Anirvan Ghosh Dastidar, the outgoing CEO, be moving to?
Where will Anirvan Ghosh Dastidar, the outgoing CEO, be moving to?
Anirvan Ghosh Dastidar has been appointed as the new chief executive of Standard Chartered Brunei. This appointment is effective on the same date as Lynette Ortiz's new role.
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