BY Ben O. de Vera
Presidential son and Ilocos Norte Rep. Sandro Marcos on Thursday dismissed as unfounded the rumor that spread two days ago, which alleged that he would become the chief fund manager of the Marcos Jr. administration’s centerpiece, Maharlika Investment Fund.
Sandro took to Twitter to address these rumors, responding to this reporter’s tweet with a concise statement: “This is absurd and severely false 😂😅 you are completely right, I am nowhere near qualified, nor do I want said position.”
This rumor reportedly circulated within “Kakampink” banker Viber groups, known for supporting former Vice President Leni Robredo’s presidential campaign last year.
Although he got a master’s degree in development studies from the prestigious London School of Economics and Political Science (LSE) in 2017, Sandro Marcos is still not eligible to become the President and Chief Executive Officer (PCEO) of the Maharlika Fund.
The government’s stated qualifications for the PCEO position include a minimum of ten years’ experience in finance or investment, with at least ten years in a senior leadership role within a reputable financial institution or public/private sector organization.
Prior experience with ESG (environmental, social, and governance) criteria and sustainable investment is preferred.
Bilyonaryo.com reported that Finance Secretary Benjamin Diokno may soon lose his position as President Ferdinand Marcos Jr.’s chief economic manager, with former senator and current Batangas Rep. Ralph Recto likely to be his replacement at the Department of Finance (DOF).
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There is speculation that Diokno is keen on moving on to lead the Maharlika Fund which offers compensation comparable to his earnings during his tenure at the central bank.
Other notable bets for the coveted Maharlika Fund post are former Government Service Insurance System (GSIS) chief Robert Vergara and veteran banker Victor Valdepeñas.
This is absurd and severely false 😂😅 you are completely right, I am nowhere near qualified, nor do I want said position.
— Sandro Marcos (@sandromarcos7) September 21, 2023