President Marcos has appointed top banker Walter Wassmer to join the Banko Sentral ng Pilipinas (BSP) Monetary Board, the Presidential Communications Office (PCO) announced on Thursday, July 11.

Before joining the public sector, Wassmer was a consultant and non-executive director of the BDO Unibank, Inc. from 2022. He also served as the senior EVP and Institutional Banking Group head from 1997 to 2022 in the same bank.

His profile on the bank's website said Wassmer was previously chairman and officer-in-charge of BDO Elite Savings Bank, Inc., formerly GE Money Bank, Inc. (A Savings Bank), and held directorships in BDO Leasing and Finance, Inc., BDO Finance Corp., BDO Capital & Investment Corp., MMPC Auto Financial Services Corp., MDB Land, Inc., Mabuhay Vinyl Corp., and Banco De Oro Savings Bank, Inc. (formerly Citibank Savings, Inc.).

He was appointed as senior board adviser of First Philippine Holdings Corp. on November 10, 2022.  

Wassmer was also a senior vice president of the Far East Bank and Trust Co. from 1986 to 1997; assistant vice president of the Union Bank of the Philippines from 1983 to 1986; and corporate account officer of the Bancom Finance Corp. from 1980 to 1982.

The Swiss-Filipino banker was likewise a corporate account officer of the IFC Leasing and Acceptance Corp. from 1979 to 1980.

Reports about Wassmer's appointment first surfaced on the last week of June.

Wassmer is an old friend of President Marcos. In a radio interview with State-run Radyo Pilipinas in June 2022, Wassmer said he and the President were classmates in Grade 4 in La Salle Greenhills.

The banker holds a Bachelor of Science degree in Commerce from De La Salle University.