This year, the Bangko Sentral ng Pilipinas (BSP) took a divergent path for its annual Banking Community cocktails, holding the event at the Courtyard of the Philippine International Convention Center (PICC).

The lobby of Manila’s premier event venue was a sight to behold: its marble floors glistened, thousands of polished globule chandeliers sparkled, and the recessed downlights had been upgraded to LED.

Yes, Virginia, the devil is in the details! I am so familiar with the lobby, the lighting, and every nook and cranny of the PICC; it used to house the Department of Foreign Affairs in the late 1980s when I was a diplomatic reporter.

It calls to mind several instances when then-Foreign Affairs Secretary Raul Manglapus successfully avoided “ambush interviews”—the Courtyard was his preferred escape route to the back door.

This September, the PICC—designed by National Artist for Architecture Leandro Locsin—will turn 50. With its brutalist charm, the PICC was inaugurated on Sept. 5, 1976, as the region’s first international convention center. It hosted its first major event, the International Monetary Fund-World Bank (IMF-WB) annual meeting, just a month later.

By the way, did you know that local bank presidents, CEOs, and business leaders also attend the IMF-WB annual meetings in Washington, D.C.? Once, I caught a banker “in flagrante”; instead of listening to the speech of our very own Finance Secretary, he went to play golf at the Bretton Woods golf course. Well, I suppose it was the chance of a lifetime!

I believe the change in venue this year was to flex the improvements undertaken in preparation for the Philippines’ chairmanship of the 49th ASEAN Summit. And rightfully so—clearances and approvals must be obtained from both the heirs of Architect Locsin and the National Historical Commission before any changes can be introduced to such a historical legacy.

Those who attended the Friday event might have noticed scaffoldings several meters away from the buffet table. These were there to facilitate the removal and transfer of the fire escape that had been previously installed but was not part of the original design.

It was a welcome surprise to see, for the first time, Ms. Marie walking hand-in-hand with her forever BSP Governor Eli Remolona. The sea of guests parted—much like the Red Sea—to give way to the event’s host and his wife.

I almost always look forward to this annual BSP event. I equate it to the Vin d’honneur hosted by the President at Malacañan Palace, as the gathering allows us journalists to mingle, exchange pleasantries, and discuss issues with business, banking, and government luminaries.

Yes, Virginia, it’s a den of sources—some willing, others not-so-willing—to give their take on unfolding developments in both the political and business arenas. It is also a prime venue for people-watching: observing who sits with whom at the VIP table and noting their demeanor.

From my viewpoint, I observed that newly installed Finance Secretary and Monetary Board member Frederick Go was the most requested for selfies. Meanwhile, Lynette Ortiz, president of Land Bank of the Philippines—which figured visibly in the recent “floodgate mess”—was nowhere in sight.

Also missing were BSP Senior Assistant Governor for Financial Markets and Head of Treasury Dr. Edna C. Villa, and Assistant Governor and Chief Audit Executive Mary Jane Chiong.

Word from the hallowed halls of the PICC is that AG Jane is being considered for the position to be vacated when a certain Deputy Governor retires. Another juicy item is the retirement of SAG Edna, who will reach the mandatory age in the middle of this year.

As the wheels of business continue to churn, bets are on among market players and bank officials as to who will fill SAG Edna’s shoes—unless, of course, her term is extended.