New Monetary Board Members in the Philippines

[pioneer]

President Aquino names new Monetary Board members

MANILA, July 23 (PNA) -- President Benigno S. Aquino III has appointed two new members of the Monetary Board of the Bangko Sentral ng Pilipinas (BSP).

Citing appointment letters signed by Executive Secretary Paquito Ochoa Jr., Presidential Communication Operations Office (PCOO) Herminio Coloma Jr. said the new appointees are: Juan D. de Zuniga Jr. and Valentin A. Araneta, who will each serve a six-year term of office.

De Zuniga had been designated as Monetary Board Member last May to serve the unexpired term of Ignacio R. Bunye, who advanced his retirement.

He served previously as BSP Deputy Governor, Assistant Governor and General Counsel.

Meanwhile, Araneta replaces Peter B. Favila, who retired recently.

Prior to his appointment, Araneta was President and Chief Executive Officer of the Philippine Deposit Insurance Corporation (PDIC). (PNA)