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Tony Moncupa isn’t all too sad with not being BSP governor

Thanks to years of experience, he has learned the art of managing expectations.

EastWest Bank vice chairman and chief executive officer Antonio Moncupa, Jr. wasn’t that heartbroken after losing the race to the governor’s seat at the Bangko Sentral ng Pilipinas (BSP) last May, even after he secured an endorsement from President Rodrigo Duterte’s political party.

In an interview with Cathy Yang of ANC’s Market Edge, the top banker said he was “very much” prepared when he heard that former Deputy Governor Nestor Espenilla, Jr. was the President’s “chosen one” as BSP chief.

“Actually, when you are into these possibilities, you try to be realistic as in business,” Moncupa said in the television interview. “When you run for mayor and there are five candidates, you know only one will get it. You should be prepared for that.”

Prior to the announcement, Moncupa was one of the contenders to the top post alongside Deputy Governor Diwa Guinigundo and former Monetary Board member and fellow banker Peter Favila. He was even endorsed by the ruling PDP-Laban party well ahead of Duterte’s decision, but the turnout surprised observers as it showed that the President does not always follow what his party dictates.

He may not have won the much-coveted post, but he definitely showed who’s boss as EastWest booked a whopping 60% income growth during the first half of 2017 at P2.5 billion.

Jump to 2:00 and see his reaction here:

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