GSIS Board Appoints New Chairman

The GSIS Board of Trustees elected Arnulfo “Week” Veloso as President and General Manager of the State Pension Fund.

During a rotation event held at GSIS headquarters in Pasay City on Friday, Veloso was greeted by outgoing GSIS President Rolando Macasset, other GSIS executives, and class members.

“After three decades of working in banks, now is the time to use what I have learned in international finance and banking to contribute to nation building,” Veloso said. “I now have the responsibility to make sure that retirement benefits for government employees are well managed.”

Prior to his appointment to GSIS, Veloso was President and CEO of the Philippine National Bank (PNB). During its tenure, the bank was recognized by Asian Banker as the Best Managed Bank for demonstrating excellence in its response to the Covid-19 pandemic in 2020.

Prior to working at PNB, Veloso was the first Filipino president of banking giant HSBC Philippines. He also worked for Citibank and then PCI Bank under former Central Bank Governor Rafael Buenaventura.

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Veloso has also worked directly with Filipino and multinational clients – especially large corporations and industry unions – for many years. Part of his work at the British multinational global bank and financial services holding company HSBC has been to build regular relationships with institutional funds and investors with companies and interests in the Philippines.

Throughout the COVID pandemic, Veloso has been working directly with leaders in government and the banking industry to help support the macro economy through his election as President of the Influential Bankers Association of the Philippines where he has been a director since 2015.

Veloso received his Bachelor of Commerce degree, majoring in Marketing Management, from De La Salle University in Manila in 1986.


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