Current and former high-ranking officials of the Government Service Insurance System (GSIS) have called for the “immediate and irrevocable” resignation of Jose Arnulfo “Wick” Veloso, the president and general manager of the state-run pension fund, accusing him of “poor investment decisions” that resulted in losses amounting to P8.8 billion. In a strongly worded letter to Veloso dated Oct. 14, past and present members of the GSIS’s board of trustees alleged that the fund’s top executive had pursued risky investments “marked by a disturbing lack of transparency.” “Your continued presence at the helm of the GSIS puts the welfare of its 2.6 million members—dedicated […]... Keep on reading: GSIS execs want Veloso to resign over P 8.8 billion losses