The Government Service Insurance System board of trustees elected Jose Arnulfo Veloso, who has 36 years of banking experience under his belt, as new president and general manager.
“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,” Veloso said.
“I now carry the responsibility of making sure that the retirement benefits of government employees are well managed,” he said.
Veloso was warmly welcomed by outgoing GSIS chief Rolando Ledesma Macasaet, executives and employees during the turnover at the GSIS headquarters in Pasay City.
Under Section 18 of the GOCC Governance Act of 2011 or Republic Act 10149, “the CEO or the highest-ranking officer provided in the charters of the government-owned or controlled corporations shall be elected annually by the members of the board among its ranks.”
Veloso was the president and chief executive of Philippine National Bank prior to his appointment to GSIS. During his watch, PNB was recognized by the Asian Banker as the “Best Managed Bank” for demonstrating excellence in its response to the COVID-19 pandemic in 2020. He was also recognized as the “Best CEO” during the Asian Banker’s annual Leadership Achievement Awards.