President Ferdinand “Bongbong” Marcos Jr. has appointed Eli M. Remolona Jr. as the seventh governor of the Bangko Sentral ng Pilipinas (BSP).
The decision comes after Remolona was seen accompanying Marcos Jr.’s economic team during an investor roadshow in Singapore, as reported earlier by Bilyonaryo.com.
Remolona joined the BSP’s policy-making body on August 18, 2022, filling the remainder of outgoing member Felipe M. Medalla’s term. Medalla, who has served as the sixth governor of the BSP for a year, is set to retire on July 3. Prior to his current role, Medalla enjoyed an impressive 11-year tenure on the Monetary Board.
With extensive experience in global finance, Remolona’s career includes a significant stint at the Bank for International Settlements (BIS) in various capacities, with experience in both the Basel and Hong Kong offices. Additionally, he brings 14 years of expertise in monetary policy and central banking from his time at the Federal Reserve Bank of New York.
Remolona’s contributions extend beyond international institutions, as he has also served as a financial sector economist at the World Bank, enhancing his understanding of the global financial landscape.
In academia, he held key positions as the Director of Central Banking and Professor of Finance at the Asia School of Business in Kuala Lumpur.