Veloso ‘honored’ to work for Marcos

The incoming Government Service Insurance System (GSIS) president and general manager, veteran banker Jose Arnulfo “Wick” Veloso, said it will be an honor for him to join the Marcos administration.

“It is an honor to be invited to join the government and serve under the administration of President Ferdinand Romualdez Marcos Jr.,” said Veloso, currently Philippine National Bank (PNB) president and CEO.

Veloso, a capital market expert and banker for over 30 years, said it is a “privilege to be of service to the GSIS, its stakeholders and the nation.”

Veloso has been leading the Lucio Tan-owned PNB since November 2018. Before joining one of the country’s oldest bank, he was CEO of HSBC Philippines, the first Filipino to hold top rank in the British bank.

The new GSIS chief worked in the HSBC Hong Kong headquarters in 2000 after joining the bank’s local unit in 1994, as both head of Asian local currency debt trading, and the credit derivatives for Asia Pacific.

He was called back to the Philippines in 2003 to head HSBC’s treasury and global markets sector, and by 2012 was appointed as head of global banking and markets.

Veloso is also an industry leader as former president of the Bankers Association of the Philippines in 2021. He will replace Rolando Macasaet as GSIS head.

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