Financial services firm Union Bank of the Philippines has appointed Matthew Kolling as chief investment officer (CIO) for its corporate venturing arm, UBX Philippines, Back End News reported yesterday.
UBX formed the unit in February 2019 and it made its first investment, in logistics software provider Shiptek Solutions, three months later. It can invest up to ₱500m ($9.6m) a year in financial technology developers.
His new role will involve Kolling overseeing UBX’s corporate venturing activities and raising capital for the vehicle, in addition to helping in areas including joint venture and mergers and acquisitions transactions.
Kolling joined diversified conglomerate Aboitiz Equity Ventures, the majority shareholder of Union Bank, in August 2019 as head of venture investments, assisting UBX with investment decisions. He had previously spent two decades conducting technology deals in the US, the Philippines and the broader Southeast Asian region.
UBX president and chief executive John Januszczak told Back End News: “We at UBX are excited to welcome Matt as our new CIO.
“We firmly believe that Matt will be instrumental in driving value creation opportunities, both within the CVC fund and our corporate ventures. We look forward to working with him as we fulfil UBX’s vision of a future where banking services are embedded into everyday experiences that matter.”
Edwin Bautista, president and CEO of Union Bank, added: “The addition of world-class talents in our pool reinforces our strategy to future-proof the organisation and our business as we prepare for many new opportunities that come with the changing times.”
Photo of Matthew Kolling courtesy of LinkedIn.
