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Amando Tetangco took on the top job as the nation’s central banker in July 2005 under president Gloria Macapagal Arroyo. In the intervening period, he has lasted the full term of Arroyo and her successor, Benigno Aquino, and the first year of the latest incumbent.
He has seen the global financial crisis come and go and yet has shepherded the Philippine economy through a period of unbroken quarterly growth that has lasted the whole of his tenure. And when he leaves in July, he will still be popular.
“It would be impossible,” says Security Bank president and CEO, Alfonso Salcedo Jr, “to admire him any more than I do. He is a top-notch person.”
Tetangco is as unflappable as ever as he takes a seat at a boardroom table to reflect on the economy whose stewardship he is ready to hand over.
What’s the secret of stability? “The first important element in this equation is focus,” he says. “One has got to be focused on the mandate of the institution, which in our case is the maintenance of price and financial stability, conducive to the balanced and stable growth of the economy. Everything you do should be consistent with that mandate.”
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