Unionbank appoints former Citibank executive as COO in the aftermath of acquisition

Union Bank of the Philippines has appointed Manish Chawla, a former senior executive at Citigroup, as its new Chief Operations Officer. Chawla, who has nearly 20 years of experience in various positions at Citibank, will take on the role effective July 1. He will report to the Chief Technology and Operations Officer. This appointment comes as Union Bank integrates the assets of Citi Philippines following the completion of a P72-billion takeover deal last year.

Chawla has a master’s degree in finance and control from Kurukshetra University in India. He previously served as the site head of Citigroup Business Process Solutions and as the head of operations and technology at Citibank Philippines.

Union Bank had announced last year that it had successfully acquired Citi’s Philippine consumer banking business, and as part of the deal, committed to hiring approximately 1,500 employees from Citi Philippines. The full integration between Union Bank and Citi is expected to be completed by mid-2023.

In the first quarter of 2023, Union Bank, which is part of Aboitiz Equity Ventures Inc., reported a net income of P3.4 billion and a 57% increase in net revenues to P16.1 billion.

—Miguel R. Camus INQ


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