'Garcia not interested in Metrobank presidency'

MANILA, Philippines - “I am not interested and will decline if such an offer is made,” said Philippine Savings Bank (PSBank) president Pascual Garcia III regarding rumors of his being in the shortlist of replacements to the presidency of Metropolitan Bank & Trust Co. (Metrobank).

In a letter addressed to Metrobank chairman Antonio Abacan Jr., Garcia said that he exposed himself to danger for the sake of his PSBank personnel at the ongoing Senate impeachment hearings.

“I have gone this far for my people at PSBank and any movement may cause them to feel that they are being abandoned. More importantly, I would not want my sincere intentions in defending our employees, its depositors and the banking industry in general to be misinterpreted,” Garcia stated.

He added that he was not interested in the position, and that he would straightforwardly decline “if such an offer is made.”

The letter, dated Feb. 14, was in reaction to a news report that appeared in The STAR last Tuesday stating that Garcia was included in a shortlist of prospective candidates for the post of Metrobank president.

Arthur Ty, son of Metrobank patriach George S.K. Ty, is currently the bank’s president.

In 2006, Arthur reportedly agreed to be Metrobank president for only five years.

He replaced Abacan who was appointed chairman of the bank. Abacan is recognized as a close confidant of the Metrobank patriarch.

Metrobank’s executive vice president and head of national branch banking sector Fabian Dee is reportedly in the shortlist and is the leading candidate for the post of Metrobank president.

PSBank has been cast in the limelight recently as Chief Justice Renato Corona reportedly had peso and US dollar accounts in the bank.

Garcia appeared at the hearings of the Senate impeachment court representing PSBank and the officials of the bank’s branch in Katipunan Ave., Quezon City, where Corona reportedly maintains accounts.

However, Metrobank sent a letter to the Philippine Stock Exchange (PSE) denying any discussions for the presidency of the bank.

“The bank will make the announcement after the matter has been properly voted upon during the organizational meeting following the bank’s annual stockholders meeting, which shall be held on any day in April or May,” it said.