THE Bangko Sentral ng Pilipinas (BSP) on Thursday announced the passing away of Monetary Board member Valentin Araneta. He was 69.
In a statement, the central bank said Araneta died on Wednesday. It did not disclose the cause of death. Araneta reportedly suffered a stroke in December last year.
The BSP will hold a requiem Mass and necrological service on February 23, Friday, from 9 a.m. to 12 noon, at the BSP Assembly Hall of the BSP Complex in Malate, Manila.
Inurnment will be on Sunday, February 25, at the St. Therese Columbarium on Newport Boulevard in Pasay City.
Araneta served as president of the Philippine Deposit Insurance Corp. from 2011 to 2014 before his appointment as Monetary Board member in July 2014.
Before becoming PDIC president, he was an independent director at Metropolitan Bank and Trust Co.
He also served as president and chief operating officer of Rizal Commercial Banking Corp. from 2000 to 2003 and was senior executive vice president and chief operating officer of the Philippine National Bank until 1998.
Valentin finished economics at Ateneo de Manila University in 1971 and attended Wharton Business School in 1991.