BIZ BUZZ: Three-way race for BSP deputy governor

The race to succeed former Bangko Sentral ng Pilipinas (BSP) Deputy Governor Chuchi Fonacier is entering its final stretch—and it’s shaping up to be a three-way contest, Biz Buzz has learned.

The Monetary Board, the BSP’s policymaking body, is expected to meet next week to review the shortlist of candidates and possibly decide on Fonacier’s replacement.

Fonacier finished her stint as head of the central bank’s Financial Supervision Sector on July 31.

Among the leading contenders are Assistant Governors Lyn Javier and Arifa Ala.

Javier currently heads the BSP’s Policy and Specialized Supervision Subsector, while Ala—who serves as the central bank’s lead on Islamic banking and finance—oversees Financial Supervision Subsector 3.

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The third candidate remains unnamed, but Biz Buzz learned that he or she is also an insider from within the BSP.

Stay tuned.