BIZ BUZZ: Another deputy governor set to exit BSP

Another deputy governor is bound to leave the Bangko Sentral ng Pilipinas (BSP) soon. And the hunt for her successor has begun.

We’re referring to Deputy Governor Chuchi Fonacier, who is set to retire soon after years of serving as head of the BSP’s financial supervision sector (FSS), which is mainly responsible for the regulation of banks and other financial institutions.

This means the central bank will lose two key officials.

Recall that the BSP early this month already started the search for a new deputy governor for the monetary and economics sector (MES). The successful candidate will replace retirement-bound Francisco Dakila Jr.

And both Fonacier and Dakila will leave large shoes to fill.

Fonacier joined the BSP in 1984 as a bank examiner and worked her way to become the deputy governor of the FSS in 2017.

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Under her watch, a record number of bank issues and developments were successfully resolved and implemented.

Meanwhile, Dakila supervised the MES in maintaining internal and external monetary stability, liquidity and preserving the convertibility of the peso.

All the best to both DGs and good luck to their successors.