Edwin Bautista is PNB’s new president and CEO

PHILIPPINE NATIONAL Bank (PNB) has appointed former Union Bank of the Philippines, Inc. chief Edwin R. Bautista as its new president and chief executive officer (CEO).

Mr. Bautista will succeed Florido P. Casuela effective April 29, PNB said in a disclosure to the stock exchange on Wednesday. The former will also take the latter’s seat on the bank’s board of directors.

“This impending leadership transition marks a key milestone in PNB’s ongoing strategic transformation. The board expressed its deep appreciation for Mr. Casuela who skillfully led the bank through the challenges of the post-pandemic period,” the bank said. “Mr. Bautista brings with him a wealth of experience from Union Bank of the Philippines (UnionBank), where he played a pivotal role in driving the bank’s digital transformation and expanding its retail banking.”

“His appointment signals PNB’s commitment to innovation, customer-centric banking, and long-term sustainable growth. PNB remains dedicated to modernizing its operations, enhancing financial services, and strengthening its position as one of the country’s premier banking institutions,” it said.

Mr. Bautista stepped down as UnionBank president and CEO on Jan. 1 but stayed on as director. UnionBank said in a separate disclosure on Wednesday that it has accepted his resignation as director effective immediately.

The ex-UnionBank chief spent 27 years at the Aboitiz-led lender, joining as senior vice-president in 1997 and holding various senior leadership roles in transaction, institutional, consumer, and retail banking throughout his career.

He oversaw UnionBank’s acquisition of Citigroup Inc.’s Philippine retail banking business in 2023.

Mr. Bautista began his career as a brand manager at Procter & Gamble. Prior to his UnionBank stint, he also served as head of Global Transaction Banking at Citibank Philippines.

He graduated from De La Salle University with a degree in BS Mechanical Engineering. He is also an alumnus of the Advanced Management Program of Harvard Business School.

PNB’s attributable net income grew by 17.1% year on year to P21.05 billion in 2024 on continued core business growth.

Its shares ended at P47.90 each on Wednesday, rising by P1.90 or 4.13% from the previous close. — AMCS