BIZ BUZZ: Hunt on for next BSP treasury chief
For the first time in recent history, the Bangko Sentral ng Pilipinas (BSP) has opened the position of treasury chief—especially crucial at this time that the peso is languishing in uncharted territory—to external candidates.
Several Biz Buzz sources said that the search committee had recently summoned candidates to a panel interview.
While there are applicants from its own ranks, a few candidates from some of the country’s largest banks—all dealing room veterans—are likewise under consideration.
After all, the hunt is on for the successor of Edna “EV” Villa, whose term has been extended for a few months, but is set to bow out later this year.
EV holds the rank of senior assistant governor for financial markets at BSP.
She oversees and provides strategic direction on open market operations, foreign exchange policy implementation, management of the country’s international reserves, as well as management of risks, consistent with the BSP’s primary mandates of price and financial stability.
By casting a wider net, it’s likely a “matter of seasoning” the internal BSP treasury staff to ensure that the monetary and banking regulator stays ahead of the curve.
The first external candidate is Dino Gasmen, treasurer and head of global markets at Bank of the Philippine Islands (BPI).
Before joining BPI in 2014, he spent 17 years at HSBC Global Markets. Among other roles, he headed HSBC’s trading business not just in the Philippines, but also in Indonesia, Vietnam and Sri Lanka.
Another candidate is Dondi Baltazar, currently executive vice president and head of markets at Philippine National Bank.
He is likewise an alumnus of HSBC, where he used to head global markets trading. A third name, likewise a former foreign banker (HSBC and Citi), has floated.
We’re referring to Coco Martin—not the lead actor of “Ang Probinsyano” and “Batang Quiapo”—but an executive vice president (and former treasurer) at BDO Unibank.
He sorted out the derivatives exposure of the country’s largest bank in the aftermath of the global financial crisis.
Note that all these candidates are super senior treasury professionals and ex-foreign bankers who have gone past several crises affecting the country.
All of them have reached retirement age but still have a lot to contribute if and when they jump to the regulator’s side.
After all, the next BSP treasury chief has big shoes to fill and heavy responsibilities to bear in this dizzying market environment.
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