Aboitiz family appoints former Citibanker Eric Lustre as head of Trust at UnionBank

Union Bank of the Philippines has tapped the services of another former Citibanker to head its trust and fund management team.

Fresh from clinching a P55-billion deal to take over the consumer banking business of global banking giant Citigroup Inc. in the Philippines, Aboitiz-led UnionBank has hired Eric Lustre.

Lustre joins other former Citibankers in UnionBank including vice chairman Justo Ortiz, president and CEO Edwin Bautista, chief customer experience officer and chief digital channel officer Ana Maria Delgado and director Nina Aguas.

Lustre served as assistant manager for corporate sales of Citibank NA for three years after serving as a staff assistant for corporate account management of Far East Bank & Trust Company.

Lustre served as president and CEO of Philam Asset Management Inc. (PAMI) since 2016.

He also held the chairmanship of the investment committee where he reviewed proposed tactical asset allocation and monitored investment performance and adherence to portfolio investment mandates to ensure consistency in meeting investment goals.

Lustre started his career in PhilamLife as chief credit officer and was responsible for the credit risk management of the parent company and its subsidiaries.