SCBP appeals NLRC decision

The Standard Chartered Bank of the Philippines (SCBP) is committed to uphold good governance, a requirement of the Bangko Sentral ng Pilipinas (BSP) for all banks and financial institutions operating in the country.

SCBP gave this assurance amidst the gale the institution is facing with the recent decision of the National Labor Relations Commission (NLRC) to reinstate its terminated employee Manuel Baviera.

SCBP legal counsel Reynaldo Geronimo expressed disappointment over the NLRC decision, citing that Baviera was removed from his position due to non-adherence to good governance.

"Mr. Baviera is the same senior officer who took advantage of his position while still serving the bank to cull confidential information and made these his platform to build cases against the bank," Geronimo maintained.

The bank lawyer has filed an appeal with the NLRC, designed to bring out the facts of the case.

According to Geronimo, Baviera, who was SCBP’s Human Relations senior officer, was found to have violated the bank’s code of conduct, in a hearing conducted by an independent outside counsel. The same code of conduct that applies to some 30,000 Standard Chartered work force worldwide.

Geronimo bared that during the investigation Baviera was found to have betrayed his obligation to the company by using documents for personal investments which came into his possession in confidence as a senior member of the bank’s personnel department.

"Baviera turned around and used the same information to threaten the bank with litigation and adverse publicity if he were given not only the paper losses in his investment, but also extravagant compensation," the bank counsel claimed. At the start, Baviera never complained since he was receiving interest income. The yield, however, was affected by the negative developments in the global markets, which started with the 9-11 terrorists attack in New York.