Manila: President Ferdinand R. Marcos Jr. has reappointed two members of the Bangko Sentral ng Pilipinas' (BSP) policy-making Monetary Board (MB) for full six-year terms, ensuring their continued contribution to central banking in the country.

According to Philippines News Agency, the BSP announced that the Chief Executive has reappointed MB Member (MBM) Walter Wassmer, who was initially appointed to the Board in July 2024, and MBM Jose Querubin, who was named Board member in September 2024. Their appointments are in effect until July 2032.

BSP Governor Eli Remolona Jr., who also serves as the concurrent MB chair, highlighted the significant contributions of the two MB members to the Board's deliberations and decision-making. He emphasized that their expertise in financial markets, commercial banking, and risk management complements the Board's strengths in economics, public service, and business.

Walter Wassmer, prior to his initial appointment to the MB, had an extensive career in private banking. He served as the senior executive vice president and head of institutional banking at BDO Unibank, Inc. until his retirement in 2022. Following his retirement, Wassmer joined the bank's Board and took on roles in various committees, including the Executive Committee, Trust Committee, Risk Management Committee, and Related Party Transactions Committee.

Jose Querubin, on the other hand, has held several prominent positions in the banking sector. He was the president and chief executive officer (CEO) of United Coconut Planters Bank from 2003 to 2007. Querubin also served as a board member of ASEAN Finance Corp. (now AFC Merchant Bank) and held senior positions at Bank of America, Solid Bank Corp., and Citibank. Additionally, he was the president and CEO of Megalink and served as the secretary of the Bankers Association of the Philippines.