Here’s good news for government workers eyeing to enjoy the fruits of their labor upon their retirement.
Arnulfo “Wick” Veloso, the new chief of the Government Service Insurance System (GSIS), said that he is committed to strengthening the state-run pension fund for public-sector workers. This means handling and provision of the retirement benefits of government retirees would be improved further.
“After three decades of working in banks, it’s now time for me to use what I have learned in international finance and banking to contribute to nation-building. I now carry the responsibility of making sure that the retirement benefits of government employees are well-managed,” the new president and general manager of the GSIS said during the turnover ceremony held at the firm’s headquarters.
State-run corporations needed their boards to elect yearly the highest-ranking officer among themselves, or in the case of the GSIS, its president and general managers.
Prior to his GSIS stint, Veloso was president and chief executive of the Philippine National Bank (PNB). He was adjudged “Best CEO” by the Asian Banker after successfully turning around the PNB’s finances.
Veloso was also HSBC Philippines’ first Filipino chief executive in 2012. He has worked directly with Filipino and multinational customers – especially large corporates and industry captains – for many years.
Part of Veloso’s work at British multinational universal bank and financial services holding company HSBC was to regularly build relationships with institutional funds and investors with businesses and interests in the Philippines.
Throughout the COVID-19 pandemic, Veloso has also worked directly with key government officials and the banking sector to help support the country’s overall economy.
Veloso has been a director at the influential Bankers Association of the Philippines (BAP) since 2015 and has served as its president until the end of March this year.
“At the BAP, he helped frame rules and regulations together with the Bangko Sentral ng Pilipinas as well as with legislators from the Senate and Congress with the end view of helping enhance the efficiency and the effectiveness of banks and banking services – and their contribution to the overall economy,” the GSIS statement said.
He also worked as Citibank’s fixed income portfolio manager between 1989 and 1993. His stint in Citibank has reportedly helped him further polish his treasury and trading skills, which eventually led to his rise as the “alpha male in the Philippine treasury market.”
A veteran banker, Veloso also held various leadership roles at PCI Bank and PCI Capital in the 1990s after he graduated with a bachelor’s degree in commerce, major in marketing management, from De La Salle University in 1986.