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Eli Remolona Appointed As New Bangko Sentral Governor
Mr. Eli Remolona. Photo courtesy of BSP
The Presidential Communications Office announced the appointment of Mr. Eli Remolona as the new Governor of the Bangko Sentral ng Pilipinas (BSP). With a remarkable career spanning central banking, economic policy, international finance, and financial markets, Mr. Remolona brings a wealth of expertise to his new role.
Governor Felipe Medalla's six-year term as BSP Governor is set to end on July 2. After extensive consultations with the Department of Finance, various government offices, private banks, and financial institutions, President Ferdinand Marcos Jr. has chosen to appoint Mr. Remolona as the successor to Governor Medalla.
Mr. Remolona's impressive background includes a notable tenure of 14 years at the Federal Reserve Bank of New York, followed by 19 years at the Bank for International Settlements (BIS). During his time at the BIS, he served as the regional head for Asia and the Pacific, working closely with the governors of 12 leading central banks in the region. His work focused on vital issues such as financial stability, capital market development, and asset management for Asia-Pacific central banks.
Apart from his professional achievements, Mr. Remolona is a distinguished academic. From 2019 to 2022, he served as a Professor of Finance and Director of Central Banking at the Asia School of Business in Kuala Lumpur, collaborating with the MIT Sloan School of Management. His expertise contributed to the education and development of future finance professionals, teaching courses on monetary policy, money and capital markets, and digital transformation.
In addition to his academic pursuits, Mr. Remolona held various high-profile positions in the financial industry. Notably, he served as the Chief Representative for Asia and the Pacific at the BIS, overseeing policy-oriented research and financial services provided to central banks and governments in the region.
With over 5,500 citations in leading journals in economics and finance, Mr. Remolona has made significant contributions to the field. He also served as an Associate Editor for Finance of the International Journal of Central Banking from 2005 to 2022, further highlighting his role in advancing the understanding of finance.
Mr. Remolona's journey in economics began in 1972 when he worked as an economist at the Presidential Economic Staff and Development Management Staff under Alejandro Melchor, then Executive Secretary of President Ferdinand E. Marcos. He also advised President Marcos on structural reforms during a high-level economic mission to the Philippines.
Throughout his career, Mr. Remolona has provided consultancy services to esteemed institutions such as the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the World Bank.
Prior to his appointment as Governor of the BSP, Mr. Remolona served as a Member of the Monetary Board of the BSP since August 2022.
As the newly appointed Governor, Mr. Remolona is expected to leverage his extensive knowledge and experience to guide the BSP in promoting financial stability, implementing effective monetary policies, and fostering a robust banking sector.
Governor Felipe Medalla's six-year term as BSP Governor is set to end on July 2. After extensive consultations with the Department of Finance, various government offices, private banks, and financial institutions, President Ferdinand Marcos Jr. has chosen to appoint Mr. Remolona as the successor to Governor Medalla.
Mr. Remolona's impressive background includes a notable tenure of 14 years at the Federal Reserve Bank of New York, followed by 19 years at the Bank for International Settlements (BIS). During his time at the BIS, he served as the regional head for Asia and the Pacific, working closely with the governors of 12 leading central banks in the region. His work focused on vital issues such as financial stability, capital market development, and asset management for Asia-Pacific central banks.
Apart from his professional achievements, Mr. Remolona is a distinguished academic. From 2019 to 2022, he served as a Professor of Finance and Director of Central Banking at the Asia School of Business in Kuala Lumpur, collaborating with the MIT Sloan School of Management. His expertise contributed to the education and development of future finance professionals, teaching courses on monetary policy, money and capital markets, and digital transformation.
In addition to his academic pursuits, Mr. Remolona held various high-profile positions in the financial industry. Notably, he served as the Chief Representative for Asia and the Pacific at the BIS, overseeing policy-oriented research and financial services provided to central banks and governments in the region.
With over 5,500 citations in leading journals in economics and finance, Mr. Remolona has made significant contributions to the field. He also served as an Associate Editor for Finance of the International Journal of Central Banking from 2005 to 2022, further highlighting his role in advancing the understanding of finance.
Mr. Remolona's journey in economics began in 1972 when he worked as an economist at the Presidential Economic Staff and Development Management Staff under Alejandro Melchor, then Executive Secretary of President Ferdinand E. Marcos. He also advised President Marcos on structural reforms during a high-level economic mission to the Philippines.
Throughout his career, Mr. Remolona has provided consultancy services to esteemed institutions such as the Asian Development Bank (ADB), the International Monetary Fund (IMF), and the World Bank.
Prior to his appointment as Governor of the BSP, Mr. Remolona served as a Member of the Monetary Board of the BSP since August 2022.
As the newly appointed Governor, Mr. Remolona is expected to leverage his extensive knowledge and experience to guide the BSP in promoting financial stability, implementing effective monetary policies, and fostering a robust banking sector.
Jun 23, 2023
