President Rodrigo Duterte on Monday named Nestor Espenilla as the incoming Governor of the Bangko Sentral ng Pilipinas, according to an announcement made by Agriculture Secretary Manny Piñol on his Facebook page.
Espenilla, a career bureaucrat at the central bank, served as Deputy Governor of BSP for six years. He takes over from Amando Tetangco when his 6-year term ends early this July.
The announcement on Espenilla’s appointment was disclosed Monday during the 15th Cabinet Meeting in Malacañang, said Sec. Piñol.
For his part, Presidential Spokesman Ernesto Abella remarked that, after months of waiting, Espenilla’s appointment is highly welcomed by the financial sector, noting his “deep and excellent” monetary policy and banking regulatory experience.
“Having been with the BSP for 36 years, Espenilla has all the right tools and experience to take on the governorship post. He heads the supervision and examination sector, which oversees the supervision of banks and other non-bank financial institutions under the jurisdiction of the Bangko Sentral.
“His work has helped strengthen the country’s banking system and placed it among the healthiest in ASEAN. One could say that Espenilla has served as co-pilot of Gov Tetangco as he helped the country navigate the different financial crises faced by the country and the region.”
