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Manila Bulletin devider Business devider Banking & Finance devider Marcos reappoints veteran bankers to BSP Monetary Board

Marcos reappoints veteran bankers to BSP Monetary Board

Published Jul 3, 2026 12:03 pm  |  Updated Jul 3, 2026 01:32 pm
Walter C. Wassmer and Jose L. Querubin 
Walter C. Wassmer and Jose L. Querubin 
President Marcos reappointed veteran bankers Walter C. Wassmer and Jose L. Querubin to the Bangko Sentral ng Pilipinas’ policymaking Monetary Board, securing their roles through July 2032.
The reappointments extend the tenure of both officials to full six-year terms. Wassmer and Querubin were originally tapped in July and September 2024, respectively, to fill unexpired vacancies on the seven-member board.
BSP Governor and Monetary Board Chairman Eli Remolona Jr. welcomed the reappointments, emphasizing that their collective commercial banking background significantly enhances the board’s regulatory and macroeconomic oversight.
Remolona noted that the duo’s expertise in financial markets and risk management provides a critical balance to the board’s existing strengths in economics and public administration.
BSP Governor Eli Remolona Jr. administers the oath of office to reappointed Monetary Board member Walter C. Wassmer. The former BDO Unibank Inc. executive was reappointed by President Ferdinand Marcos Jr. to serve a full six-year term on the central bank’s highest policymaking body until July 2032.
BSP Governor Eli Remolona Jr. administers the oath of office to reappointed Monetary Board member Walter C. Wassmer. The former BDO Unibank Inc. executive was reappointed by President Ferdinand Marcos Jr. to serve a full six-year term on the central bank’s highest policymaking body until July 2032.
Wassmer holds roots in the domestic corporate banking sector. Before joining the central bank, he served as senior executive vice president and head of institutional banking at BDO Unibank Inc., the country’s largest lender, until his retirement in 2022.
Following his executive retirement, Wassmeb maintained a seat on the BDO board as a consultant. His decades-long career also spans key positions at Far East Bank & Trust Co., Union Bank of the Philippines, Bancom Finance Corp., and IFC Leasing and Acceptance Corp.
Jose L. Querubin takes his oath of office before BSP Governor Eli Remolona Jr. following his reappointment to the Monetary Board. Querubin, a veteran banker and former United Coconut Planters Bank chief executive officer, will retain his seat on the seven-member policy-setting board until July 2032.
Jose L. Querubin takes his oath of office before BSP Governor Eli Remolona Jr. following his reappointment to the Monetary Board. Querubin, a veteran banker and former United Coconut Planters Bank chief executive officer, will retain his seat on the seven-member policy-setting board until July 2032.
Querubin, meanwhile, complements the board with an equally extensive private-sector background. He served as president and chief executive officer of the state-associated United Coconut Planters Bank from 2003 to 2007, and was a board member of the ASEAN Finance Corporation, which is now AFC Merchant Bank.
Beyond those roles, Querubin's executive portfolio features senior leadership roles at global institutions including Bank of America and Citibank, as well as domestic players like Solid Bank Corp. He previously led electronic banking network Megalink as president and chief executive officer and served as secretary of the Bankers Association of the Philippines, a key industry lobbying group. (Derco Rosal)

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Bangko Sentral ng Pilipinas (BSP) Monetary Board (MB)
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