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Banker, physicist, coder, professor, financial planner, triathlete, mentor, thought leader – Rizal Commercial Banking Corp. (RCBC) President and CEO Eugene S. Acevedo wears these many hats. His life has been remarkable, though he would readily acknowledge he never walked this path alone.
“I insist that every man or woman who rises above the crowd is supported by other men and women who cared for, nurtured, and mentored them,” Acevedo penned in the introduction to his autobiography, Never Stand Alone. This memoir, which includes excerpts from some of his speeches, serves as his way of expressing gratitude to those who provided invaluable support throughout his journey.
Published by Media Wise Communications/MUSE Books in 2024, coinciding with Acevedo's 60th birthday, the 228-page volume recently garnered the prestigious Gold Quill Award from the International Association of Business Communicators (IABC), based in Chicago, USA. The awarding ceremony is scheduled during the IABC World Congress on June 8-11, 2025, at the Hyatt Regency in Vancouver, Canada.
Born to a family of modest means in Surigao province, Acevedo recounts his childhood and adolescent years with engaging sincerity and vivid local color. The book's initial section traces his journey as an outstanding student at De La Salle John Bosco College in Bislig City, the University of San Carlos in Cebu City, and the Asian Institute of Management in Makati City. It also reveals details of his extensive and exemplary career at Citibank and the virtuous cycle of mentorship he experienced there.
At Citi, Acevedo began as an executive trainee in 1987 at the age of 23. He was subsequently assigned to the treasury services unit and progressed to the foreign exchange trading room. His career then took him to treasury auditing, with assignments in Tokyo, Taipei, Kuala Lumpur, London, and Sydney. Citibank’s global audit office recognized his potential and offered him a permanent audit position to establish their new derivatives marketing team in Hong Kong. Later, he was tasked with setting up the first licensed derivatives desk in Manila, as well as the regional derivatives structuring and sales team in Singapore.
The book is rich with captivating stories of Acevedo’s life as an expatriate and a “suitcase banker.” His time in derivatives coincided with the Asian financial crisis of the late 1990s, while his promotions to Country Treasurer of Citi Philippines and Citi Hong Kong spanned the period leading up to the subprime mortgage crisis and the global financial crisis of the early 21st century – events from which he gleaned crucial insights.
In 2010, after 23 years at Citibank, Acevedo received an offer he couldn’t refuse: to become the Philippine National Bank’s President and CEO at the age of 45. This tenure proved short-lived, and he transitioned to Union Bank of the Philippines (UBP) as Senior Executive Vice President towards the end of that year. He was also elected Chairman of CitySavings Bank, a UBP subsidiary. Subsequently, he joined RCBC in 2018, initially as Deputy CEO, and then as President and CEO starting in mid-2019, a position he holds to this day.
From an expatriate to a local banker and a digital trailblazer, Acevedo’s transformation is chronicled in this book with infectious enthusiasm and surprising detail, interwoven with heartwarming anecdotes about his doctor-wife and their two sons. Through his featured speeches and selected social media posts in the book's second part, the distinct voice of a man who has rediscovered writing resonates: earnest, good-humored, wise, perceptive, and compassionate. These are the very values that the judges of the IABC Gold Quill Awards recognized in their evaluation of Never Stand Alone, which is available at leading bookstores nationwide.
The need for cultural governance
Media Wise Communications recently released a coffee-table book for the Museo de Pacis Gallery Museum titled 6th Dimension: Culture-Driven Nation, with Dr. Elba S. Cruz serving as editor and principal writer. The 400-page book showcases the artworks of prominent Filipino painters and sculptors that comprise the Museo de Pacis collection.
Considered the sixth dimension of national security and development, culture possesses the transformative power to shape the Filipino nation’s identity. Strengthening our cultural foundations empowers the five other dimensions of national development (economic, social, environmental, political, technological), creating a ripple effect that fosters genuine progress.
However, realizing this vision necessitates a significant paradigm shift. Artists, curators, and creatives must unite with policymakers, educators, and the general public to establish a cohesive framework and an overarching national cultural strategy.
J. Albert Gamboa is a Life Member of the Financial Executives Institute of the Philippines (FINEX) and Chair of the FINEX Media Affairs Sub-Committee on Publications. The opinions expressed herein do not necessarily reflect the views of these institutions and the Manila Bulletin. #FinexPhils www.finex.org.ph
