The president and general manager of the Government Service Insurance System Jose Arnulfo “Wick” Veloso and the former president of the Bankers Association of the Philippines, joined top banking leaders at the BAP Annual Advisory Council meeting, underscoring the urgency of tighter coordination across the financial sector.
Veloso met with current BAP president Jose Teodoro “TG” Limcaoco and past association heads in high-level discussions focused on the industry’s strategic direction for the year ahead.
BAP officers presented updates on priority initiatives, with discussions zeroing in on raising governance standards, sharpening risk management frameworks, and deepening collaboration among financial institutions.
Former BAP presidents provided strategic guidance to ensure continuity in leadership and long-term stewardship—signaling a unified push to keep the banking system resilient amid evolving economic conditions.
Veloso stressed that sustained collaboration among banks and major institutional investors is critical to preserving financial stability and maintaining public confidence.
As head of GSIS—one of the country’s largest institutional investors and the pension fund for government workers—Veloso’s presence highlighted the strong alignment between the banking sector and key public financial institutions.
Industry leaders emphasized that closer coordination will drive:
More robust risk management systems
Stronger, more disciplined investment strategies
Greater resilience against market volatility
Higher public trust in financial institutions
Veloso reiterated that strong institutions are built on continuity and collaboration, emphasizing that unified leadership is essential to protecting financial stability and supporting long-term economic growth.
The meeting concluded with a firm commitment from banking leaders to uphold sound governance, enforce prudent risk oversight, and work collectively to strengthen the Philippine financial system—priorities seen as vital for banks and financial institutions navigating today’s complex economic landscape.
