Next BSP head need not be an insider – Moncupa

One of the frontrunners for the position to be vacated by Bangko Sentral ng Pilipinas Governor Amando Tetangco Jr. said the replacement should not be necessarily an insider to ensure seamless transition.

Banker Antonio Moncupa Jr., president and CEO of East West Banking Corp., said the next BSP governor should have the integrity, competencies as well as the support of political leaders as well as the economic team of the Duterte administration.

“There are homegrown talents but it doesn’t matter whether you are from the outside or the inside. The most important thing is you know what you’re doing and you have the competencies and you could work well with the people and the team,” he said.

During the 2017 Convention of the Chamber of Thrift Banks, Tetangco who is scheduled to step down on July 2 to end his two six-year term at the BSP said he preferred an insider to succeed him to ensure seamless transition.

Moncupa said there is merit in the selection process and search committee established by President Duterte and Finance Secretary Carlos Dominguez.

“Of course I am honored to be considered for the post and I respect the governor’s view about his preference for insiders. But remember President Duterte said whoever will be in the BSP should have the support of political leaders and the economic team led by Secretary Dominguez,” he said.

According to him, the next BSP chief should have the competence backed by a solid track record to show he knows what he is doing and he could work well with the people around him.

“Remember any results or any achievement is not a product of one person.

It is always a collective endeavor that is why it is important that we have somebody with a solid track record or achievements,” he said.

Moncupa cited the case of Bank of England Governor Mark Carney who was from the Bank of Canada and also once worked for Goldman Sachs.

He also cited the case of San Miguel Corp. president and COO Ramon Ang who never rose from the ranks at one of the largest conglomerates in Asia.

“The frame based on observation is not necessarily whether you are an insider or an outsider. The frame is whether you have the competencies as shown by track record,” he said.

He added the next BSP head should also have integrity and sense of nationalism.

Tetangco, now 64, was ap- pointed by former president Gloria Macapagal Arroyo as the BSP chief in July 2005 and became the first BSP chief to be reappointed to another sixyear term by former president Benigno Simeon Aquino III in July 2011.

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