Veteran banker Walter C. Wassmer has been appointed by President Ferdinand R. Marcos, Jr. as a member of the Bangko Sentral ng Pilipinas’ (BSP) Monetary Board, the central bank’s policy-rate-setting panel.
Joining BSP Governor and Monetary Board Chairman Eli M. Remolona, Jr., Department of Finance Secretary Ralph G. Recto, and Monetary Board members Benjamin E. Diokno, Romeo L. Bernardo, and Rosalia V. De Leon, Walter Wassmer will bring his extensive private sector banking expertise to the BSP’s highest policy-making body.
Walter will serve the remaining term of former Monetary Board member V. Bruce J. Tolentino until July 2026. Bruce resigned from his post effective 30 June 2024, along with fellow Monetary Board member Anita Linda R. Aquino, following controversy involving “ghost employees” working at the central bank.
Governor Remolona remarked,
“Walter Wassmer brings with him decades of banking experience which will prove invaluable to the policy-making body and the decisions of the Monetary Board.”
Walter Wassmer began his career with BDO Unibank, Inc in 1997, serving as Senior Executive Vice President-Head of Institutional Banking until his retirement in 2022. He joined the BDO board that same year.
His previous roles include positions at Far East Bank & Trust Co., UnionBank of the Philippines, Bancom Finance Corp., and IFC Leasing and Acceptance Corp.
Walter holds a Bachelor of Science in Commerce, majoring in Management of Financial Institutions, from De La Salle University, and he attended the Management Development Program at the Asian Institute of Management.
Following his appointment to the central bank’s policy-making body, he resigned from BDO’s board of directors.
Featured image credit: Edited from Freepik
