Two new members of the Philippine Monetary Board have just been sworn in!
Welcome Rosalia V. De Leon, former National Treasurer, and Romeo L. Bernardo, former undersecretary of the Department of Finance, who will both serve six-year terms as the newest members of the Philippine Monetary Board.
Bangko Sentral ng Pilipinas (BSP) Governor Eli M. Remolona, Jr. administered the oath of office to new Member of the Monetary Board (MBM) Bernardo last September 14, while De Leon was sworn into office last September 20, at the BSP head office in Manila.
The two will serve in the BSP’s highest policymaking body, which is concurrently chaired by Governor Remolona. The board also includes Finance Secretary Benjamin E. Diokno, V. Bruce J. Tolentino, and Anita Linda R. Aquino.
Photo shows BSP Governor Eli M. Remolona, Jr. (left) while administering the oath of office to new Member of the Monetary Board (MBM) Romeo L. Bernardo.
Prior to his appointment, MBM Bernardo served as undersecretary of the Department of Finance from 1990 to 1996, then worked at multilateral institutions, including the World Bank, International Monetary Fund, and the Asian Development Bank.
He has since gained extensive private sector experience having served on the board of directors of the Bank of the Philippine Islands, Globe Telecom, Aboitiz Equity Ventures, Monde Nissin, RFM Corporation, and Philippine Investment Management, Inc.
MBM Bernardo is also the chairman of the ALFM Family of Mutual Funds, the lead Philippine advisor to GlobalSource Partners, co-founder and vice chairman of the Foundation for Economic Freedom, as well as the co-founder and president of Lazaro Bernardo Tiu & Associates, Inc., a financial advisory firm.
Photo shows BSP Governor Eli M. Remolona, Jr. (left) while administering the oath of office to new Member of the Monetary Board (MBM) Rosalia V. De Leon.
MBM De Leon was the Treasurer of the Philippines from November 2012 to January 2015 and then again from February 2017 to September 2023, during which time she helped direct the country’s borrowing, investment, and capital market development policies.
MBM De Leon also worked at the Department of Finance as Undersecretary of the International Finance Group and as Chief of Staff to the Finance Secretary. She was named Advisor to the Executive Director at the Asian Development Bank and served as the Alternate Executive Director at the World Bank Group in Washington, DC from January 2015 to January 2017, covering the Philippines, Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Suriname, and Trinidad and Tobago.
MBM Bernardo earned his Master of Arts degree in Development Economics from Williams College, Massachusetts, and graduated magna cum laude with a Bachelor of Science in Business Economics from the University of the Philippines.
MBM De Leon, on the other hand, earned her Master of Arts degree in Development Economics from Williams College, Massachusetts, USA. She graduated with a Bachelor of Arts in Economics from the University of the Philippines.