Bank of the Philippine Islands has confirmed the return of Ayala Corp. treasurer Estelito C. Biacora, who will take charge of the bank’s treasury and Global Markets operations starting Jan. 1, 2027.
Bankero was the first to report that Biacora was heading back to BPI.
In a regulatory filing, the Ayala-led lender said Biacora will succeed Dino Rudyardo F. Gasmen, who is retiring on Sept. 1.
To bridge the four-month gap, BPI named Jethro Daniel S. Sorra, its current head of trading under Global Markets, as treasurer from Sept. 1 through Dec. 31.
The appointment marks a homecoming for Biacora, who spent years at BPI before moving to parent Ayala Corp., where he currently serves as treasurer.
Biacora brings more than 30 years of experience across treasury, asset management, private banking, capital markets and sustainable finance.
His previous roles at BPI included chief investment officer, head of BPI Private Banking, and head of Sales and Foreign Currency Portfolio Management.
He also held leadership positions at Banco Santander Philippines and Far East Bank and Trust Co.
Sorra, meanwhile, previously headed BPI’s Asset and Liability Management unit and held treasury leadership positions at Goldman Sachs before becoming the bank’s head of trading.
The BPI announcement comes as Ayala prepares for its own treasury transition. The conglomerate has appointed BPI Capital Corp. president and managing director Lester Y. Ong to succeed Biacora as treasurer, also effective Jan. 1, 2027.
