BIZ BUZZ: Gasmen is next BSP treasury chief
The hunt is over for the next Bangko Sentral ng Pilipinas (BSP) treasury chief.
Several industry sources told Biz Buzz that BSP Governor Eli Remolona Jr. has handpicked the successor of Edna Villa, senior assistant governor for financial markets, who will retire later this year.
For the first time in history, the next BSP treasury chief will come from the private sector.
We’re talking about Dino Gasmen, treasurer and head of global markets at Bank of the Philippine Islands (BPI), the first external candidate on our list when we first reported about the headhunt for this crucial BSP post in early May.
The appointment still has to be cleared by the policy-making Monetary Board.
“At the end of the day, it’s Gov’s choice,” one industry source said.
Another well-placed source said Remolona was especially confident in Gasmen’s risk management capabilities.
From what we hear, Gasmen has already started saying his bye-byes to colleagues at BPI, his employer since 2014.
He has reached retirement age, which makes it an easier decision to enter civil service and cap his professional career on the side of the regulators.
Most likely, he will be summoned to the BSP while Villa is still winding up her term, to facilitate a smooth transition.
Before working at BPI, Gasmen had spent 17 years at HSBC Global Markets covering various roles: head of the rates trading business in the Philippines, Indonesia, Vietnam and Sri Lanka; and head of balance sheet management at HSBC Philippines.
Overseas, he also worked at HSBC Bank PLC in the United Kingdom as Asian product manager.
Gasmen likewise previously worked at Deutsche Bank Manila, Citytrust Banking Corp. and Philippine American Life Insurance Corp.
It’s a big move for the BSP to bring in an external talent to its dealing room, but one that’s deemed as auspicious during this time of extraordinary volatility.
The coming of a treasury veteran to fill the big void to be left by Villa is also expected to hasten the “seasoning” of the BSP’s relatively junior treasury staff.
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