Veteran banker Wick Veloso to helm GSIS under Marcos Jr. admin

MANILA, Philippines — Jose Arnulfo "Wick" Veloso will head the Government Service Insurance System under the incoming administration of President-elect Ferdinand Marcos Jr.

Veloso will replace Rolando Macasaet as president and general manager of GSIS, the country's pension fund service for government employees.

Before the announcement, Veloso was rumoured to be in the running to lead the Finance department under the new administration, but it was later disclosed that central bank governor Benjamin Diokno would get the post instead.

Veloso's career has been no less than stellar. In this profile last year, Veloso was portrayed as an aggressive treasury trader from the 1990s and 2000s.

He rose to several top positions in the local banking industry as result of his adept skills in building networks. By 2010, Veloso was a prominent figure in HSBC, helming interest trading, Asian local currency trading, and credit derivatives before later becoming the first Filipino CEO and president of the bank's Philippine operations from 2012 to 2018.

In November 2018, he rose to the plum posting of president and CEO of Lucio Tan-led Philippine National Bank, a position he occupies at the present. Veloso is also the current head of industry group Bankers Association of the Philippines.