MB MEMBER VALENTIN ARANETA PASSES AWAY

The Bangko Sentral ng Pilipinas announced that Monetary Board (MB) Member Valentin A. Araneta passed away on Wednesday at the age of 69. Araneta served as president of the Philippine Deposit Insurance Corp. (PDIC) from 2011 to 2014 before his appointment as MB member in July 2014. Before PDIC, he was an independent director at Metropolitan Bank & Trust Company. He also served as president and chief operating officer of Rizal Commercial Banking Corp. from 2000 to 2003 and was the senior executive vice president and chief operating officer of the Philippine National Bank until 1998. The BSP will hold a requiem mass and necrological service today from 9 a.m. to noon, at the BSP Assembly Hall, BSP Complex in Malate, Manila. His inurnment will be on Sunday at the St. Therese Columbarium, Newport Boulevard, Pasay City. /