Manila: Standard Chartered Bank, a British financial services company and the oldest international bank in the Philippines, has appointed 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, reported The Standard.
Ortiz reportedly 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, said the news portal.
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, the report pointed out.
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 was quoted as saying.
Standard Chartered takes pride in having Ortiz as the first female Filipino CEO for its Philippine branch. The bank reportedly 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.
“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,” Dastidar, the outgoing chief executive, was quoted as saying by The Standard.
