BPI AIA names new CEO

Executive to oversee growing bancassurance distribution operation

BPI AIA names new CEO

Insurance News

By Gabriel Olano

BPI AIA has appointed Karen Custodia (pictured above right) as its new chief executive officer. BPI AIA is a bancassurance joint venture between the Bank of the Philippine Islands and pan-Asian insurer AIA.

Custodia succeeded Surendra Menon (pictured above left), who was CEO of BPI AIA for six years and was recently appointed as director of partnership distribution of AIA Indonesia. Custodia reports to Kelvin Ang, chief executive officer of AIA Philippines.

As CEO, Custodia oversees the growth of BPI AIA’s growing partnership distribution channel and manages its partnership with BPI’s banking operations, as well as a wide range of other initiatives.

“I am both proud and humbled to take on this new role at BPI AIA as we continue to provide Filipinos with the financial protection they need and encourage them to live longer, healthier, and better lives,” Custodia said. “We understand our consumers’ changing needs and we will continue to invest in innovations to fulfil our strong commitment to making insurance accessible, affordable, and personalised for every Filipino.”

Prior to her appointment as CEO, Custodia was head of partnership distribution sales channels at BPI AIA, a position she held since 2014. In this role, she oversaw more than 1,500 employees from the in-branch corporate sales, direct sales, private banking, and telesales teams. She also led the distribution channel’s shift from a physical to a hybrid model during the height of the COVID-19 pandemic.

“I am honoured to pass on the chief executive role to Karen,” Menon said. “Through the course of her career, she has demonstrated her expertise and knowledge, which have been key parts of many of the organisation’s innovations and developments. With her spearheading BPI AIA, I am certain that she will drive the company toward new heights of success.”

Related Stories

Keep up with the latest news and events

Join our mailing list, it’s free!