MANILA - President Ferdinand Marcos, Jr. appointed Emmanuel Rufino Ledesma Jr. as the new acting president and chief executive officer of the Philippine Health Insurance Corporation (PhilHealth), Malacañang said Thursday.

Ledesma, who took his oath during the day, replaced PhilHealth officer-in-charge Eli Dino Santos, Press Undersecretary Cheloy Garafil said.

"He is also a member of the expert panel and board of directors," the Palace statement said, referring to Ledesma.

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Ledesma had served as president and CEO of the Power Sector Assets and Liabilities Management Corporation (PSALM).

PSALM was established with a mandate to privatize the generating plants of the National Power Corp. (NPC) and to manage NPC's liabilities in order to reduce the Universal Charge for stranded debts and stranded contract costs and to lessen its financial obligations.

In 2015, Ledesma was placed under preventive suspension.

He was an investment banker with stints in Morgan Stanley and Royal Bank of Canada, before he was appointed in September 2010 to PSALM by then President Benigno Aquino III. It was Ledesma's first government service post.

The PhilHealth has been embroiled in controversy the past few years, especially during the height of the COVID-19 pandemic, with hospitals complaining of not getting reimbursed, among some issues.

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