Philippines $33 Billion Government Service Insurance System (GSIS) Appoints Juliet Bautista as Interim Officer-in-Charge (President & General Manager Responsibilities) after President & General Manager Jose Arnulfo Wick Veloso was Suspended for 6 Months for Purchase of Alternergy Holdings Corp Preferred Shares (1.45 Billion Shares) in 2023 Without Board Approval, 7 Individuals Suspended (President & General Manager Jose Arnulfo Wick Veloso, EVP Michael Praxedes, EVP Jason Teng, VP Aaron Samuel Chan, VP Mary Abigail Cruz-Francisco, Jaime Leon Warren & Alfredo Pablo)
24th July | Hong Kong
Philippines Government Service Insurance System (GSIS) with $33 billion AUM has appointed Juliet Bautista as interim Officer-in-Charge (President & General Manager responsibilities) after President & General Manager Jose Arnulfo Wick Veloso was suspended for 6 months for purchase of Alternergy Holdings Corp preferred shares (1.45 billion shares) in 2023 without board approval. The Philippines Government Service Insurance System (GSIS) has suspended 7 individuals: President & General Manager Jose Arnulfo Wick Veloso, EVP Michael Praxedes, EVP Jason Teng, VP Aaron Samuel Chan, VP Mary Abigail Cruz-Francisco, Jaime Leon Warren & Alfredo Pablo. Government Service Insurance System (GSIS) – The Government Service Insurance System (GSIS) is the oldest pension fund in Asia, established in 1937. It began its operations with a start-up capital of PHP 200,000 and only 58 employees. Today, the assets of GSIS under management amount to PHP 1.6 trillion, with 3,000 employees deployed in 56 branches all across the Philippines. GSIS provides social insurance benefits to the Philippines’ 2 million civil servants and 600,000 retired government employees. Besides pension benefits, GSIS is also the official non-life insurance corporation of the country. It provides insurance protection to all properties and assets of the Republic of the Philippines. In its mission to be a world-class pension fund and insurance institution, GSIS continuously strives to uphold the highest standards of corporate governance, implementing risk management strategies to ensure the sustainability of its pension system, and collaborating with both the public and private sectors to contribute to nation-building.
“ Philippines $33 Billion Government Service Insurance System (GSIS) Appoints Juliet Bautista as Interim Officer-in-Charge (President & General Manager Responsibilities) after President & General Manager Jose Arnulfo Wick Veloso was Suspended for 6 Months for Purchase of Alternergy Holdings Corp Preferred Shares (1.45 Billion Shares) in 2023 Without Board Approval, 7 Individuals Suspended (President & General Manager Jose Arnulfo Wick Veloso, EVP Michael Praxedes, EVP Jason Teng, VP Aaron Samuel Chan, VP Mary Abigail Cruz-Francisco, Jaime Leon Warren & Alfredo Pablo) “
Philippines $33 Billion Government Service Insurance System (GSIS) Appoints Juliet Bautista as Interim Officer-in-Charge (President & General Manager Responsibilities) after President & General Manager Jose Arnulfo Wick Veloso was Suspended for 6 Months for Purchase of Alternergy Holdings Corp Preferred Shares (1.45 Billion Shares) in 2023 Without Board Approval, 7 Individuals Suspended (President & General Manager Jose Arnulfo Wick Veloso, EVP Michael Praxedes, EVP Jason Teng, VP Aaron Samuel Chan, VP Mary Abigail Cruz-Francisco, Jaime Leon Warren & Alfredo Pablo)
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