StanChart’s Lynette Ortiz sworn in as Landbank president

Veteran banker Lynette Ortiz has been sworn in as president and CEO of the Land Bank of the Philippines, heralding a new chapter in her storied career.

Ortiz made her name as the first Filipino CEO of Standard Chartered Bank’s operations in Manila since 2016. Now, she is wearing a different shade of green as she takes the helm of Landbank, which recently absorbed state-owned UCPB.

“I recognize the highly important role of Landbank in nation-building, and I am keen to contribute and infuse ideas and innovations that will further fortify the Bank in fulfilling its social mandate,” Ortiz said in a statement. “I hope to bring in a fresh perspective drawn from my experience working in global organizations.”

Ortiz’s entry comes at an interesting time, as the Marcos administration is looking into proposals to merge Landbank with the Development Bank of the Philippines to create the largest bank in the country with assets estimated at P4.18 trillion and a deposit base amounting to P3.59 trillion.