Camille Naredo

GSIS Chair Wick Veloso. Mark Demayo, ABS-CBN News/File

GSIS Acting Chair Wick Veloso. Mark Demayo, ABS-CBN News

Article (news)

GSIS

Job Manahan

ABS-CBN News

<div><img src="https://od2-image-api.abs-cbn.com/prod/editorImage/176094724674220230110-gsis-chair-veloso-2MD_8134-MD.jpg" style="width:960px" class="fr-fic fr-dib" alt="GSIS Chair Wick Veloso. Mark Demayo, ABS-CBN News/File"/>GSIS Chair Wick Veloso. Mark Demayo, ABS-CBN News/File</div>MANILA – The complaints against Jose Arnulfo &quot;Wick&quot; Veloso, the president and general manager of the Government Service Insurance System (GSIS) must be carefully studied, just as the calls for his removal must have basis, Malacanang said on Monday. Several current and former GSIS trustees earlier called for Veloso&#x27;s resignation, citing alleged poor investment decisions that they claim caused P8.8 billion in losses.The group questioned multi-billion investments in Digiplus Interactive Corp., Alternergy Holdings Corp., Nickel Asia Corp., Bloomberry Resorts Corp. and Monde Nissin Corp.Palace Press Officer Claire Castro said President Ferdinand Marcos, Jr. was already made aware of the calls for Veloso&#x27;s resignation. &quot;Ang pamumuno at tamang leadership ang nais ng Pangulo sa bawat ahensiya. Hindi naman po agad-agad nabibigla dahil kung mayroon pong mga reklamo sa ngayon, dapat po itong inaaral nang masinsinan,&quot; Castro told reporters. &quot;Kung mayroon naman basis, tingnan natin kung anong magiging desisyon ng Pangulo,&quot; she added. Veloso earlier told DZMM Teleradyo he would continue with his work as the head of GSIS as long as he has the trust and confidence of the President. <div><a class="fr-strong fr-green" href="https://www.abs-cbn.com/news/business/2025/10/20/wick-veloso-rejects-resign-call-says-gsis-fund-life-up-to-2058-1005">READ: Wick Veloso rejects resign call, says GSIS fund life up to 2058</a></div>He rejected insinuations that the GSIS fund&#x27;s life is in jeopardy, saying the fund&#x27;s assets rose from P1.53 trillion in July 2022 to P1.92 trillion as of August 2025.He also said he is open to sitting down and talking to critics to explain management&#x27;s investment decisions. In September, the Office of the Ombudsman lifted Veloso&#x27;s preventive suspension following questions on the P1.4-billion transaction with Alternergy Holdings Corp.

The complaints against Jose Arnulfo "Wick" Veloso, the president and general manager of the Government Service Insurance System (GSIS) must be carefully studied, just as the calls for his removal must have basis, Malacanang said on Monday.

The complaints against Jose Arnulfo "Wick" Veloso, the president and general manager of the Government Service Insurance System (GSIS) must be carefully studied, just as the calls for his removal must have basis, Malacanang said on Monday.

Palace on calls to remove GSIS chief: 'There must be basis'

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Palace on calls to remove GSIS chief: 'There must be basis'

Job Manahan,

ABS-CBN News

Published October 20, 2025 04:02 PM PHT

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Wick Veloso

Government Service Insurance System

GSIS

Malacanang

Claire Castro

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