GSIS appoints Bautista OIC after Veloso's suspension

The Government Service Insurance System (GSIS) has appointed Juliet M. Bautista, Executive Vice President for Support Services, as officer-in-charge following the suspension of GSIS President Jose Arnulfo Veloso.

Bautista will temporarily take over to ensure steady leadership and continued service to members and pensioners during Veloso's suspension.

Veloso was placed under preventive suspension without pay by the Office of the Ombudsman for six months due to irregularities in purchasing preferred shares from AlterEnergy Holdings Corp. worth P1.45 billion.

The investigation found that the transaction lacked necessary approvals, did not meet market capitalization requirements, and was not listed on the Philippine Stock Exchange at the time of purchase.

GSIS emphasized its commitment to safeguarding institutional integrity and protecting members' funds through ongoing governance reforms and internal control measures.