MB member Araneta passes away

Bangko Sentral ng Pilipinas (BSP) Monetary Board (MB) member Valentin A. Araneta has passed away, three months after suffering a stroke last November 2017. He just turned 69 years old on February 14. Valentin was appointed to the Monetary Board in July, 2014 and was supposed to have a term of six years. He was a former banker and head of a BSP co-regulator when he was asked to join the seven-man policy-making body of the central bank by then President Benigno S. Aquino III.

Prior to the BSP position, he was president of the Philippine Deposit Insurance Corp. (PDIC) since 2011. Before that, he was president and COO of Rizal Commercial Banking Corp. from 2000 until 2003, and an independent director of Metropolitan Bank and Trust Co. from 2004 until he was appointed to PDIC.

Araneta was a 1971 A.B. Economics graduate from the Ateneo de Manila University. He also completed a one-year Diploma Course in the International Graduate School of the University of Stockholm, Sweden and the Advanced Management Program of the Wharton Business School in Pennsylvania.

Valentin was hospitalized on Monday at St. Luke’s Medical Center in Global City after complaining of difficulty in breathing. He has been undergoing physical therapy in the same hospital since his stroke.

His wake is scheduled on Thursday, beginning at 5pm, at Christ The King Green Meadows in Quezon City. (LCC)