Several of my sources in the banking community were relatively amazed and amused at how I characterized Bangko Sentral ng Pilipinas (BSP) Gov. Felipe "Philip" Medalla as humorous but pragmatic. I've echoed Gov. Philip's "thoughts concisely," commented no less than Lady Luck herself Ms. Cynthia "Pinky" Medalla.
To satisfy their quench for more, here’s one more interesting anecdote.
Gov. Philip now has a number of close-ins tagging along wherever he goes, including a backup. He admits this still startles him despite acknowledging its necessity because he has always been used to the ways of only having a driver.
Though it’s necessary, the economist in him, again manifested not by words, but by the manner and the tone by which he shared this vignette and if I read him correctly, he's mentally counting the dedicated manpower and the attendant resources that go with it.
This brings me back to the recent past, the time of previous governors, anecdotes that highlight the importance and the unquantifiable value of having the close-ins and backups for safety and protection.
But, let’s play a guessing game.
Back when the days were a bit startling, a senior deputy governor had to endure a sweaty prison cell-like-ride in the armored vehicle for his safety. Since safety is primordial, this governor went fuming red when his service Mercedes Benz conked out in the middle of the road, not once but twice.
And there’s this BSP Governor, who came from a private bank with white and green colors in its logo but had been gobbled up by another lender, had to sideline his Ford Expedition SUV to avoid being labeled as a big spender.
Dubbed as the king of the road and in fashion, Ford Expedition is said to be a gas guzzler, drinking up to a liter just to start the engine. And at that time the prices of gasoline soared to above P60 per liter.
As we bade goodbye to the summer breeze with thunderstorms visiting us almost daily, the buzz feed in the banking community is “poaching time.” It seems like the favorite financial institutions to scout for talents are owned and/or controlled by the Sy Family.
One issue of significance buzzing around the market corridor is that the top management of Philippine National Bank (PNB) is currently scouting for a replacement of Jose Arnulfo “Wick” Veloso, who was tapped by the Marcos administration to steer the Government Service and Insurance System, has shortlisted two candidates.
Heard that the headhunters are a bit hard pressed in looking for a permanent replacement of Mr. Wick because from what I’ve gathered seasoned banker Florido “Doy” Casuela, who just turned 81 last Tuesday, will stay on from what I heard, until the end of the year.
In the list are Romeo D. Uyan, Jr., president and chief operating officer of China Bank and vice chair of China Bank Capital Corp., and Rafael “Raffy” Ayuste, senior vice president and trust officer of BDO Universal Bank.
If Mr. Raffy makes the cut, then, it will be sort of a homecoming for him. He was the head of PNB Trust before he joined BDO Private Bank, Inc. and then later transferred to the main bank.
Mr. Doy has all my respect and support but with the wheels of banking changing course with the new technology, the behavioral pattern of depositors, there’s a need to inject a relatively young blood to bring back the luster and to lift up the PNB brand.
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