MANILA— Philippines President Ferdinand Marcos Jr has chosen Eli Remolona to be the next central bank governor for a six-year term, the presidential office said on Friday.
Remolona, who sits on the seven-man policy-making Monetary Board, will replace Felipe Medalla, starting July.
“With his extensive experience and remarkable achievements in central banking, economic policy, international finance, and financial markets, Remolona brings a wealth of expertise to his new role,” the presidential office said in a statement.
Remolona worked for a combined 33 years at the Federal Reserve Bank of New York and the Bank for International Settlements.
Remolona joined the Monetary Board in August, taking over the seat vacated by Medalla, who became the central bank governor.
—Reporting by Neil Jerome Morales and Karen Lema; editing by Jason Neely and Christina Fincher