I want to highlight the fact that true blue journalists always appreciate comments, whether positive or negative, on their work. These comments show that the article has been read and has made an impact.

I'm saying this because I've been pleasantly surprised by the positive feedback I received for my previous piece about upcoming changes in one of my favorite places along Roxas Boulevard.

Yes, Virginia, you’re an alpha! You’ve hit the target—the Bangko Sentral ng Pilipinas (BSP).

I've heard from my A-1 but muted sources that a number of mid-tier officers are expected to be promoted following the retirement of BSP officials.

One of the top candidates for promotion is Senior Assistant Governor (SAG) and General Counsel Elmore O. Capule.

To give you some context, earlier this year, I wrote that Atty. Capule was among the BSP officers and employees who took advantage of the early retirement incentive plan (ERIP) offered by then-BSP Governor and current Monetary Board Member Benjamin "BED" Diokno.

The ERIP package, which was specifically offered to BSP employees aged 55 to 59, provides 1.5 months for every year of service before taxes. Both Atty. Capule and Deputy Governor for the corporate services sector Eduardo "Ed" G. Bobier availed of the ERIP.

The tenures of DG Ed and SAG Elmore were extended. DG Ed is set to leave in October. There is talk that Atty. Capule’s ERIP availment is being reconsidered or possibly canceled. Curious, why?

Well, my A-1 but muted source shared that the current head of the Office of the General Counsel and Legal Services will be promoted to DG to manage the corporate services sector when DG Ed retires.

The next in line for a promotion is Managing Director Zeno Abenojar, who returned to BSP sometime in the second quarter after his secondment at the Department of Finance as undersecretary for Policy Development and Management Services Group.

MD Zeno will be promoted to AG for the Monetary Sub-sector, a position that will be vacated when SAG Iluminada “Lou” Sicat retires. Word is that despedida parties have already begun, as SAG Lou, who reached the mandatory retirement age of 65 a couple of years ago but had her services extended, is finally scheduled to leave the institution by the end of this month.

This role is considered to be a temporary position for MD Zeno. My sources said MD will likely be promoted in the future. Following the trend of succession, before taking up the role of Deputy Governor for Monetary and Economic Sector, Dr. Francisco “Francis” G. Dakila, Jr. served as the Assistant Governor for the Monetary Policy Sub-sector. Dr. Francis is expected to retire around 2025.

Next, we have Margarita “Maggie” Debuque-Gonzalez, who currently holds the position of principal researcher at the BSP Research Academy (BRAC). From what I’ve gathered Ms. Maggie is currently serving as the officer-in-charge of BRAC following the retirement of AG Laura Ignacio.

All things considered, if her promotion goes through, it is one that I’m proud of, as Maggie, our term of endearment, is a former colleague. She used to work as an economic journalist for the Philippine Daily Inquirer.

Another colleague who has moved up, although not within the BSP hierarchy, is Melissa “Mel” Lopez. Like me, Mel was part of the BSP as a reporter for the BusinessWorld and later for CNN Philippines.

She resigned to pursue a Master's in Development Economics at the University of the Philippines (UP). She was a scholar at the UP School of Economics and a fellow at the Philippine Center for Economic Development.

Mel is now the chief economist at Lundgreens Capital Philippine office. This firm is a professional investment advisory firm licensed by the Danish FSA, established in 2009. Additionally, she serves as the managing editor of the Bankero Magazine on the side.

Salud Maggie, Mel, Zeno and Elmore.

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