File photo of newly-appointed BSP governor Eli Remolona
MANILA, Philippines 鈥� President Ferdinand Marcos Jr. has appointed Eli Remolona as the new Governor of the Bangko Sentral ng Pilipinas (BSP).
According to Presidential Communications Office (PCO) on Friday, the announcement came after consultations with various stakeholders.
鈥淭he six-year term of a BSP Governor, currently held by Governor Felipe Medalla, will end on July 2,鈥� the statement began.
鈥淎fter extensive consultations with the Department of Finance, various government offices, private banks, and financial institutions, President Ferdinand Marcos Jr. has made the decision to appoint a new Governor to succeed Governor Medalla,鈥� said PCO.
The office described Remolona as a tenured international banker, having spent 14 years working at the Federal Reserve Bank of New York and 19 years at the Bank for International Settlements (BIS).
鈥淩emolona鈥檚 expertise extends beyond academia, as he held various positions of high importance in the financial industry,鈥� it said.
鈥淣otably, he served as the Chief Representative for Asia and the Pacific at the BIS, where he led a team of 35 professionals, managed a significant budget, and oversaw policy-oriented research and financial services provided to central banks and governments in the region,鈥� it added.
The new governor has also been a BSP鈥檚 Monetary Board member since August 2022.
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