GSIS appoints new OIC amid suspension of Veloso, execs

The Government Service Insurance System has designated executive vice president Juliet Bautista as officer-in-charge (OIC) following the preventive suspension of several top officials—including GSIS president and general manager Jose Arnulfo Veloso—by the Office of the Ombudsman.

- By MARCO LUIS BEECH and ELIZABETH MARCELO — With Brix Lelis

In a special board meeting held on Monday, the GSIS board of trustees appointed Bautista, the agency's executive vice president for support services, to provide steady leadership and assure continued service to all members and pensioners.

"The GSIS Board underscores that safeguarding the institution's integrity and protecting members' funds remain its highest priorities. Investments in governance reforms and strong internal controls are ongoing to further reinforce system resilience and transparency," GSIS said in a statement yesterday.

The Office of the Ombudsman had placed Veloso under a six-month preventive suspension in connection with the state-run fund's P1.45-billion investment deal with Alternergy Holdings Corp. (Alternergy), a listed renewable energy firm founded by former energy secretary Vince Perez Jr.

Veloso, for his part, said the agency is fully cooperating with the ombudsman in the investigation and welcomes the chance to uphold the soundness of GSIS's investment choices.

"We welcome this opportunity to affirm the integrity of GSIS's investment decisions and will provide further updates once the process concludes," Veloso said.