PDP-Laban endorses EastWest Bank CEO as next BSP Governor

Senate President Aquilino Martin "Koko" D.L. Pimentel III and Partido Demokratiko Pilipino-Lakas ng Bayan (PDP-Laban) on Sunday endorsed Antonio C. Moncupa to be the next Governor of the Bangko Sentral ng Pilipinas.

“I believe Mr. Moncupa has all the qualities required to lead the central bank in this period of challenge and change," Pimentel said in an emailed statement.

Aside from being the President and CEO of EastWest, Moncupa currently heads the think tank of PDP-Laban, the ruling party.

He previously served as EastWest COO, and as Chief Financial Officer of International Exchange Bank.

Moncupa was also a former student activist who was imprisoned during the Martial Law years.

"He is an experienced banker whose knowledge of the financial markets is matched only by his unquestionable integrity and character and passionate nationalism,” Pimentel said.

Should Moncupa be chosen, he will succeed Governor Amando M. Tetangco, Jr. who is scheduled to leave the BSP on July 2.

Recognized as one of the best central bankers in the world, Tetangco is currently in his second term, after being appointed by former President Gloria Macapagal-Arroyo in 2005, and then reappointed by former President Benigno S.C Aquino III in 2011.

President Rodrigo R. Duterte was reported to have told Finance Secretary Carlos G. Dominguez III that he would ask Congress to amend existing laws and increase the two-term limit on the central bank governor as a way of accommodating a third term for Tetangco.

"Let's cross the bridge when we get there," Tetangco told reporters in November 2016.

Dominguez last week said that several individuals are now being considered for the spot, but did not elaborate as to who these are.

For his part, Tetangco has been vocal in saying that he would prefer someone from within the BSP to replace him, among them Deputy Governors Diwa C. Guinigundo, and Nestor A. Espenilla Jr. — Jon Viktor D. Cabuenas/BM, GMA News