UCPB has appointed a veteran banker to lead its subsidiary UCPB Leasing and Finance Corp. (ULFC).
The Bank announced recently that Gerard M. Aguirre who has nearly three decades of banking experience, specifically in leasing, corporate and retail banking, is joining ULFC as president, replacing Franco P. Magalong, who was appointed to head the Bank’s Corporate and Commercial Banking Group.
Prior to joining UCPB, Mr. Aguirre was with BDO Unibank’s BDO Leasing and Finance Inc., where he handled the company’s international desk. He also led the company’s Luzon and Visayas-Mindanao marketing department which was responsible for the P5 billion portfolio of the units. He also headed BDO commercial banking operations in the North and Central Luzon Area.
Mr. Aguirre likewise had stints at Standard Chartered Bank, Solidbank and PSBank.
Mr. Aguirre finished his Business Management degree, cum laude, at the Ateneo de Manila University.
“Gerard brings with him a wealth of experience, and I am confident he will carry on the success that Bong Magalong has done at ULFC. Welcome to the UCPB Family, Gerard,” said UCPB President and CEO Higinio O. Macadaeg, Jr.
Established in 1989, ULFC engages primarily in leasing assets or equipment to enterprises so clients need not provide too much capital outlay or spend on chattel mortgage fees to expand their businesses. Companies involved in the trading of products can also make their businesses more attractive by offering lease facilities to their clients through ULFC.