Ex-BSP governor Singson, 87

MANILA, Philippines – Former Bangko Sentral ng Pilipinas Governor Gabriel “Gabby” Singson passed away early Tuesday at the age of 87, the central bank announced yesterday.

Singson was  the first BSP governor when Republic Act 7653 or the New Central Bank Act was enacted during the term of former President Fidel Ramos in 1993.

He also served as representative of the Philippines to the International Monetary Fund.

Singson died around 2 am but the cause of his death remains undisclosed.

He served as BSP chief from July 6, 1993 to July 5, 1999.

The BSP said Singson helped steer the Philippine financial system during the 1997 East Asian financial crisis.

“During Governor Singson’s watch, the impact of the Asian financial crisis on the Philippines was relatively mild as good economic fundamentals and earlier reinforcements on the banking system contained the economic fallout,” the BSP said.

The central bank will hold a requim mass and necrological service today at 12:30 pm to 3:30 pm at the BSP Complex in Malate, Manila.

Singson’s interment is scheduled on April 1 at the Heritage Park in Taguig City.

Singson has more than 40 years experience in the banking industry and among several posts.

Prior to serving as BSP governor, he also served as the president of the Philippine National Bank (PNB) from 1992 to 1993.

He served as chairman of the Board of JG Summit Capital Markets Corp. of JG Summit Holdings Inc. of taipan John Gokongwei.

He has been chairman and member of the advisory board at Rizal Commercial Banking Corp. of tycoon Alfonso Yuchengco since January 31, 2011.

He served as chairman emeritus of Philippine Airlines Inc. of taipan Lucio Tan and chairman of Great Pacific Life Assurance Corporation.

He served as the Vice Chairman of Digital Telecommunications Phils Inc., since January 2004. He served as director of Oriental Petroleum and Minerals Corp. since July 14, 2005. He served as a director of JG Summit Capital Markets Corp.

He served as Director of Multinational Finance Group Ltd., Summit Forex Brokers Corp., Summit Point Corp., and a trustee of the Gokongwei Brothers Foundation, Inc., and of Tan Yan Kee Foundation.

Singson served as a director at JG Summit Holdings, Inc. from August 1999 to April 28, 2015 and director of United Industrial Corporation Ltd from July 27, 1999 to April 23, 2010.

He served as an Independent Director of Digital Telecommunications Phils Inc., since January 2004.

Singson graduated valedictorian and magna cum laude from the College of Liberal Arts, Ateneo de Manila University in the Philippines.

He also obtained his LLB degree, cum laude, from the Ateneo Law School and a Master of Law Degree from the University of Michigan Law School as Dewitt Fellow and Fulbright scholar.