Dutch financial institution ING led by bankero Hans Sicat has named veteran banker Jun Palanca as head of wholesale banking (WB) at its Manila Branch effective May 16.
Palanca will report to Sicat who is country head of ING in the Philippines and ING head of Wholesale Banking Asia Pacific Anju Abrol.
“We are excited to welcome Palanca back to ING and to the Philippines. With such a broad experience across corporate and investment banking in Asia Pacific, we have no doubt that he will be able to lead the team in offering product and financing solutions that meet the growing needs of our clients,” the bankero said.
Palanca returned to the Philippines after spending over 20 years in Singapore and Hong Kong.
“I am looking forward to working with the strong team that we have at ING. The economic recovery in the Philippines presents a huge potential for our clients and we are committed to work hand-in-hand with them to tap into the market opportunities,” Palanca said.
“As head of wholesale banking in the Philippines, Palanca will be responsible for continuing our business momentum by executing the pillars of our Asia Pacific strategy to leverage ING’s global network, deepen our client relationships and strengthen our position as the ‘go-to bank’ for sustainable finance,” Abrol said.
With a solid history in the Philippines that goes back to 1990, ING has a strong position in the country’s M&A, corporate advisory and capital markets.
A banking veteran with close to 30 years of experience, Palanca worked at Citibank Philippines from 1993 to 1995 before joining ING’s project finance team in 1996.
Palanca was with ING for 10 years and was director of Loan Syndications Asia before moving to Merrill Lynch in 2006 and joined Sumitomo Mitsui Banking Corporation (SMBC) as regional head of Structured Finance Syndications in and Export & Agency Finance and Aviation Finance in 2010.
Palanca was appointed regional head of Loans Distribution Asia and head of Structured Credit Distribution of SMBC in 2016.