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Manila Bulletin

Business

Ex Monetary Board appointed as PDIC director

Business

Ex Monetary Board appointed as PDIC director

By Lee C. Chipongian

Former Monetary Board member of the Bangko Sentral ng Pilipinas (BSP), ex-Deputy Governor Juan de Zuñiga Jr., has a new job as director of Philippine Deposit Insurance Corp. (PDIC), banking sector co-regulator.

Atty-Jun-de-Zuñiga

Zuñiga said Wednesday that he “welcomes the new position.”

“It is related to my BSP experience since PDIC also exercises bank supervision in its work as deposit is insurer,” he said. “There are many common provisions in both BSP and PDIC charters.”

After Zuñiga retired from the BSP as Monetary Board member for six years, he was elected independent director of the Manila Bulletin Publishing Corp. where he also writes a column. As a lawyer and former legal counsel of the BSP, he also joined DivinaLaw in 2020.

Zuñiga was BSP’s deputy governor for the resource management sector from 2010 to 2013. He also led the BSP Security Plant Complex in Quezon City while he was deputy governor.

Zuñiga was a graduate of Far Eastern University Political Science. He also finished his Bachelor of Laws degree in the same school and was a fifth placer in the 1970 Bar Examinations.

Zuñiga, as BSP’s longest-serving legal counsel from 2000 until 2010, was instrumental in the crafting of two important bills, the Anti-Money Laundering Act of 2001 and the amended New Central Bank Act, which was approved as a new law in 2019.

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