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Former BIS Banker Eli Remolona Appointed as New BSP Governor

Monetary Board member Eli Remolona has been appointed as the new Governor of the Bangko Sentral ng Pilipinas (BSP). He succeeds Felipe Medalla who has held the position for a one-year term.

Eli Remolona

Prior to joining BSP, Remolona served as an Independent Director of the Bank of the Philippine Islands and the Chair of the Risk Management Committee.

He was also a Professor of Finance and the Director of Central Banking at the Asia School of Business in Kuala Lumpur, a collaboration with the MIT Sloan School of Management.

As the BIS regional head for Asia and the Pacific for 10 years, Remolona worked closely with governors of the 12 leading central banks in the region to formulate policy on such issues as financial regulatory reform, capital market development, and financial stability, while also overseeing BIS reserve management for Asia Pacific central banks.

He had also worked for 14 years at the Federal Reserve Bank of New York.

Jose Teodoro K. Limcaoco

“With his extensive global experience and expertise in financial markets and regulations, we are confident that Dr. Remolona will anchor the Philippine banking industry not only towards continuous stability of the financial system but to growth and competitiveness in the regional stage.

The BAP looks forward to working with incoming governor Remolona on various initiatives impacting the banking industry and its stakeholders, whether in the areas of financial market development, cybersecurity or sustainability,”