Singlife Philippines names Lester Cruz as its new CEO

MANILA, Philippines — Digital life insurer Singlife Philippines has announced the appointment of Lester Cruz as its new chief executive officer.

Lester is a highly accomplished financial services professional with more than 20 years of experience managing multiple segments and products, leading cross-functional teams and consistently delivering strong results across various roles.

Lester’s expertise spans business development, relationship management, product management, client engagement and corporate governance. His extensive professional background covers retail banking, wealth management, insurance and fintech.

Before joining Singlife Philippines, Lester served as the customer franchise director of UNO Digital Bank, which, incidentally, is a partner of Singlife Philippines. The UNO app allows customers to access a variety of affordable and comprehensive Singlife insurance plans.

At UNO, he was instrumental in transforming the startup into a rapidly growing franchise. He oversaw a broad range of functions, including products and payments, digital channels and innovation, growth marketing, business development and partnerships, bank-at-work program, and enterprise project management. His strategic vision and implementation were crucial in driving UNO Digital Bank’s strong and sustainable financial results.

Lester also played a pivotal role in the launch of CIMB Bank Philippines, the country’s first all-digital, mobile-first bank.

Prior to CIMB, Lester spent nearly 15 years at Citi. He managed the premier Wealth Management and Insurance businesses of Citibank N.A. (Philippines) as president and board director of its wholly owned subsidiary, Citicorp Financial Services and Insurance Brokerage Philippines Inc. (CFSI).

Singlife Philippines chairman Richard Vargo says, “We are delighted to welcome Lester on board. His extensive experience in both digital and traditional banking, startups and his long-standing career in financial services make him the ideal leader to steer Singlife Philippines into its next phase of growth.”

Singlife Philippines director Sherie Ng adds, “Singlife Philippines’ unique fully digital proposition is gaining strong traction in the market