Aboitiz heiress named UnionBank president

MANILA, Philippines — Union Bank of the Philippines has named an heiress of the Aboitiz clan to succeed outgoing president and CEO Edwin Bautista who is scheduled to step down at the end of the year.

In a disclosure to the Philippine Stock Exchange, the bank said it has appointed senior executive vice president Ana Maria Aboitiz Delgado as president effective Jan. 1 next year.

She is the daughter of the late ambassador Roberto Eduardo “Bobby” Aboitiz and his wife, Marian Aboitiz.

A fifth generation Aboitiz, Delgado was a key figure in steering the bank’s digital retail banking innovations since she joined UnionBank in November 2003.

Over the course of her career, Delgado led the business development of SME banking and retail consumer finance, which included credit cards and loans.

She was likewise tasked to lead the design of the customer experience across UnionBank’s physical and digital touchpoints that will differentiate the bank from other traditional lenders.

In July 2023, Delgado expanded her role to head UnionBank’s institutional banking business. She also served as the chief customer experience officer and chief digital channels officer for the bank, guiding the lender on its digital transformation.

Delgado also served as a director of the bank’s board and acted as chairman of CitySavings Bank’s board.

The former Citibanker started her career after obtaining a Master’s in Business Administration from the New York University Stern School of Business. She earned herself a bachelor’s degree in Art History/Painting from Boston College before entering into business.

Erramon Aboitiz, chairman of UnionBank’s board of directors, said they are looking forward to taking the bank to greater heights with Delgado at the helm.

“Her experience and expertise will allow her to lead the bank’s continued digital transformation which was started by Edwin and has put UnionBank on an accelerated road towards its aspiration to be a great retail bank,” he said.

With now over 15 million customers as part of its growing retail base, Delgado’s expertise around customer experience design and digital innovations will help build on the strong foundation that Bautista leaves the role with.

Bautista, who has been with UnionBank for 27 years, will remain part of UnionBank’s board of directors to help ensure a smooth leadership transition.

Bautista has been with the bank for six years or since he took the role of CEO after the retirement of Justo Ortiz in 2018.