RCBC treasurer quits
The treasurer and executive vice president of the Yuchengco-owned Rizal Commercial Banking Corporation (RCBC), Raul Victor B. Tan, has resigned, the company said in a disclosure to the stock exchange.
His resignation comes just as the senate investigation on money laundering of the $81 million stolen from the central bank of Bangladesh is heating up.
Tan graduated from Ateneo de Manila University with a Bachelor of Science degree in Management and has an MBA from Fordham University.
He has been with RCBC since July 2008 when he joined RCBC Capital as first vice president and treasurer. He joined the bank in December 2008 as head of the treasury’s balance sheet management segment. He became acting treasurer of the bank in March 2015. He became executive vice president and head of the treasury group just last February.
RCBC reported a net income of P5.1 billion last year, about a quarter more than the P4.4 billion it reported in 2014.
Tan’s resignation is effective April 20, 2016. In its disclosure, RCBC said Tan resigned “to pursue other endeavors.”
RCBC’s senior vice president Carlos Cesar Mercado was appointed by the board of directors as acting treasurer effective immediately.
Hackers broke into the system of the central bank of Bangladesh, stealing $81 million that were deposited in a branch in RCBC.