PNB's Veloso voted as BAP President

Philippine National Bank (PNB) President and Chief Executive Officer Jose Arnulfo "Wick" Veloso was elected as the new president of the Bankers Association of the Philippines (BAP) during its annual membership meeting on Monday.

In an emailed statement, Veloso said his leadership will focus on collaborative efforts with the government to help speed up the economic recovery.

"We will work with the government, its lawmakers and our regulators especially in building, enhancing, or amending banking laws and regulations to help promote economic activity safely," he said.

The BAP also elected the following new officers on Monday:

• First Vice President: Cecilia Borromeo, Land Bank of the Philippines president and chief executive officer
• Second Vice President: Hans Sicat, ING Bank country manager and head of clients
• Treasurer: Edwin Bautista, Union Bank of the Philippines president and chief executive officer
• Secretary: Sanjiv Vohra, Security Bank Corp. president and chief executive officer

New members of the board of directors include representatives from the Bank of China, Bank of Commerce, BDO Unibank, China Banking Corp., Development Bank of the Philippines, The Hongkong and Shanghai Banking Corp. Ltd. (HSBC), ING Bank, JP Morgan Chase Bank, Land Bank of the Philippines, Metropolitan Bank & Trust Co. (Metrobank), Mizuho Bank Ltd. Manila Branch, Philippine National Bank, Standard Chartered Bank, Security Bank, and Union Bank.

Veloso takes over from outgoing Bank of the Philippine Islands (BPI) President and Chief Executive Officer Cezar "Bong" Consing, who reached retirement age in 2019. He consented to extend his term to help ensure an effective transition moving forward, and will retire from the company in April.

"I know we will be in very good hands," Consing said, "The role of leading the BAP is both an honor and a gift, and one that I am grateful to have had."

The BAP under Consing's leadership pushed for the passage of the Bayanihan to Heal as One Act (Bayanihan 1), the Bayanihan to Recover as One Act (Bayanihan 2), and the Financial Institutions Strategic Transfer Act (FIST).

Established in 1949, the BAP consists of 45 member banks, 21 of which are local banks and 24 are foreign bank branches. — DVM, GMA News