A NEW FACE, but a familiar one. Last April 22, the Bank of the Philippine Islands (BPI) welcomed Jose Teodoro “TG” Limcaoco as its new president and CEO.
The new chief is no stranger to the bank. Prior to his new role in BPI, TG Limcaoco served as Ayala’s chief financial officer, chief risk officer, and chief sustainability officer. He previously served as executive vice president of BPI, became president of BPI Capital in 2007, president of BPI Family Savings Bank in 2010, and board member of BPI in 2019. He was also responsible for BPI’s insurance businesses, Ayala Life and Ayala Plans, and had oversight over BPI Philam and BPI/MS Insurance Corporation.
TG succeeds Cezar “Bong” P. Consing, who has retired after successfully steering BPI for the last eight years towards its position today as the second largest bank in the country in terms of market capitalization, a leader in digital banking in terms of users and transactions, and one of only two Philippine companies with a BBB+ credit rating from Standard & Poor’s.
Transitioning from response to recovery, TG laid down five key imperatives that will drive the bank to achieve more for the Filipino people: turn BPI into the undisputed leader in digital banking services, create a greater SME and consumer share in its loan book, close the gap in funding leadership, refocus branches as sales points and not only as service points for customers, and further promote sustainable banking.
TG is known in the industry as someone who is deeply passionate about financial education. “The bank is an important part of the economy and we need to do our share. As a banker, I believe it is our mission to help people achieve financial wellness and progress by providing the appropriate tools and advice.”
Another priority for the new BPI head is elevating customer service and experience. He said that a banker needs to “put yourself in the shoes of the customer” to enhance your customer’s experience, with digitalization as an enabler to achieve this end. “We need to be very focused on the customer, on their experience with us, through our digital platforms and our branches. We will build on the trust of the clients through every touchpoint they have with us.”
BPI remains a pioneer in digital banking and financial inclusion in the country, and the new BPI chief hopes to push this further through his strategic priorities. “This laser focus on the customer is paramount to achieve a more financially inclusive and better Philippines.”
Looking after the financial well-being of people
With all these strategies, what I find interesting, too, is that TG considers this as his dream job. “As I was growing up, I was very interested in banking. I’m a mathematician at heart. And as I said, I think a banker’s mission is to educate people. It’s not about just taking deposits or making the loan, but it’s about teaching people about financial well-being, making them comfortable about their economic situation, and making the best out of it. I’m very grateful to be given the chance to lead an institution as great as BPI.”
In addition to being a mathematician at heart, BPI’s new head is also a family man. And he doesn’t mind sharing the same family-first mindset with his people. “I think in the end, your passion is really what you live life for, right? I’ve always felt that the one mission of people in their lives is to take care of their families. I hold that very true and very dear. Because the family is number one in my book, and it will always be. I never hold it against anyone who puts their family first over their job, because I think that’s the most important.”
And as he settles into his new role as BPI’s President and CEO, he is further encouraged by having his family’s full support. “As my kids say, ‘Papa, you’ve finally gotten your dream job.’”
To the new BPI chief, congratulations. With your leadership, guidance and key imperatives, we look forward to seeing the bank prosper, continuously improve to become the trusted everyday bank of every Filipino, and come closer to realizing its vision of building a better Philippines.
Taguig City response to COVID 19
As soon as the government started to roll out its vaccination program, I resolved to have all the members of my family and the household to be vaccinated. There have been reports of the varying efficacy rates among the different drugs but I was not choosy. I would take whatever is FDA-approved and available, thinking it would better to have some degree of immunity rather than none at all.
I enrolled myself and my dependents under the Ayala Vaccination and Immunization Program but I was open to other options whichever become available first. Eventually, my daughter Trisha and I received our first jabs from the Muntinlupa city health office. My other children, Dondi and Frannie, however, have to wait in line.
The problem was my wife Mira who is bedridden. It is physically impossible for her to go to the vaccination center. Fortunately, I heard about the home vaccination program of the Taguig City government. A quick call to Mayor Lino Cayetano, and Dr. Glenda Latorre of the Taguig City Health Office immediately came over to our condo at BGC to give Mira her first Sinovac injection.
Thank you, Mayor Lino Cayetano, for initiating a home vaccination program for residents of your wonderful city.
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