MANILA - The central bank confirmed on Thursday that Monetary Board member Valentin Araneta passed away on February 21 at the age of 69.
Mr. Araneta joined the Bangko Sentral ng Pilipinas as a monetary board member in 2014, replacing Peter Favila.
Before joining the central bank, he was President of the Philippine Deposit Insurance Corporation.
Araneta had an impressive career in banking that spans over 30 years, including his stint as President and COO of RCBC from July 2000 to June 2003. He also served as an independent director of Metrobank, and before that, he worked with the Philippine National Bank for 18 years.
He served as vice president and general manager of PNB Singapore branch, and senior vice president and general manager for the Hong Kong and North Asian region. He was also a director and corporate secretary of the Financial Executives Institute of the Philippines.
He graduated with an economics degree from the Ateneo de Manila University in 1971. He also took a diploma course in the International Graduate school of the University of Stockholm, and the Advanced management program of the Wharton Business School.
Mr. Araneta's remains now lie at Christ The King Parish in Green Meadows, Quezon City.
The BSP said it will hold a requiem nass and necrological service on Friday, February 23 from 9:00am to 12 noon at the BSP Assembly Hall, Bsp Complex, Malate, Manila.
Mr. Araneta will be inurned on Sunday February 25 at the St. Therese Columbarium, Newport Boulevard, Pasay City.