Marcos appoints BDO director to Monetary Board

President Marcos has named a seasoned banker - his high school classmate to the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), which recently saw two of its members quit after they were linked to an unprecedented ghost employee controversy.

- ALEXIS ROMERO and KEISHA TA-ASAN

The appointment of Walter Wassmer, who served as a consultant and non-executive director of the BDO Unibank Inc., was announced by the Presidential Communications Office (PCO) in a statement yesterday. The board is the highest policy-making arm of the central bank.

Wassmer is a former senior executive vice president and institutional banking group head of BDO from 1997 to 2022. He also worked as senior vice president of the Far East Bank and Trust Co. from 1986 to 1997, assistant vice president of the Union Bank of the Philippines from 1983 to 1986; and corporate account officer of the Bancom Finance Corp. from 1980 to 1982. The newly appointed MB member also served as corporate account officer of the IFC Leasing and Acceptance Corp. from 1979 to 1980.