Thank you, Gov. Nesting
In celebration of the Trust Consciousness Week, the Trust Officers’ Association of the Philippines also celebrates the legacy of the man who has been TOAP’s staunch supporter and ally, even prior to his appointment as Governor of the Bangko Sentral ng Pilipinas (BSP). TOAP’s beloved “Gov.” Nesting has been the ears and sounding board of the industry, championing our common advocacies of regulatory reforms and financial inclusion.
Always generous to TOAP of his precious time, Gov. who was still BSP Deputy Governor at that time, would always grace our activities, from the annual TOAP Summit to the annual TOAP Conventions and even our membership activities like the Fun Run and Bowling Tournaments. He also initiated and spearheaded our quarterly BSPC meetings to ensure there is collaboration and constant communication between the industry and the BSP, making sure that all agreed actions are followed through, and who is responsible for each plan of action. It is also not surprising that in the BSPC meetings, there were times when we were not spared with his cutting remarks when he would want things get done immediately and no workable solution is agreed. But all these the industry had learned to appreciate as we saw the issuance of a lot of circulars addressing the needs of the industry and the requirements of the clients. This also showed the Governor’s resolve in listening to the industry and balancing what the regulators want, as there were also times when he himself would question his own colleagues on the way they implement a regulation, always going back to the ratio and the spirit of the circular, and emphasizing a risk-based regulatory approach for trust institutions. He emphasized that a good trust rating will earn an institution a lot of privileges so he encouraged compliance and good governance.
A staunch supporter of financial inclusion, Gov. spearheaded the PERA, rallying the industry on its implementation, and would have wanted to see its massive nationwide roll-out. But likewise a believer of financial innovation and digital transformation, Gov. also saw how the digital and mobile technology would benefit more Filipinos, not only in the field of banking, but also investing, even in minimal amounts. The TOAP is now looking into this digital approach to continue what Gov. has started on this front.
Thus, it was a sad night for all of us, when, after our fellowship activity at the 2019 Bacolod TOAP Annual Convention, something that Gov. used to attend also with us, we got the news that Gov. had passed on.
Gone too soon Gov., but the legacies you left with us, only tell us that you did not leave us. These legacies will always remind us to continue working on these legacies so that everything you started will not go to waste, and that the dream you dreamed for every Filipino will be fulfilled.
May we have your heart as a true TRUST servant for our country and for our countrymen. So long Gov. We will miss you.