MANILA, Philippines –The Bangko Sentral ng Pilipinas (BSP) Monetary Board designated Deputy Governor Maria Almasara Cyd Tuaño Amador as the officer-in-charge of the central bank, following the death of Governor Nestor Espenilla Jr on Saturday, February 22.
The Monetary Board held a special meeting after Espenilla’s death, where it was agreed that Amador will take the role until President Rodrigo Duterte appoints a new BSP governor.
She has been with the BSP since 1982 and has held various positions.
In a statement, the BSP said Espenilla passed away peacefully, surrounded by members of his family.
Espenilla battled tongue cancer.
He is survived by his wife Maria Teresita Festin Espenilla, daughter Jacqueline Joyce and son-in-law Ben Baltazar, sons Nikko Nestor and Leonardo Nestor, and grandchild Zev Eron.
Details of the wake have yet to be announced.
BSP Statement on the passing of Governor Nestor A. Espenilla Jr. pic.twitter.com/FnC8vDZEh3— Bangko Sentral (@BangkoSentral) February 23, 2019
Espenilla, fondly called Nesting by his colleagues and the banking industry, pursued major reforms in monetary and financial policies, as well as the BSP organizational structure.
He also spearheaded the digital shift of the retail payment system in the country for a more inclusive and efficient financial system.
Espenilla was also hailed as the “bad cop” during his stint in the central bank, particularly for going after banks found violating regulations.
He had the shortest stint as BSP governor, having served only less than two years. – Rappler.com