Insurance Commission Appoints Banking Veteran as Deputy Commissioner

MANILA, Philippines — The Insurance Commission (IC) has appointed veteran banking executive Nikolai Buncio as deputy insurance commissioner, heading the regulator’s Financial Examination Group. Buncio joined the insurance regulator on Sept. 7 after a career spanning banking and government, most recently serving as senior director and head of transaction banking at Australia and New Zealand Banking Group Ltd. (ANZ), a position he had held since March 2018. He took his oath of office before Finance Secretary Frederick Go at the Department of Finance. Prior to his most recent stint at ANZ, Buncio served as director for Transaction Banking, Corporate and Institutional Banking and Non-Bank Financial Institutions from July 2017 to March 2018. His banking experience also includes leadership positions at foreign banks such as Deutsche Bank Manila AG, Standard Chartered Bank, Wells Fargo and Bank of America in California, US. Buncio began his career in government, serving as senior political affairs officer to then senator Robert Jaworski at the Senate of the Philippines from June 1998 to January 2001. The newly appointed IC official said he followed a family tradition of public service, noting that his grandfather, father and sister had all served as public servants in their own ways. He earned his Master of Business Administration from the University of the Philippines, where he also studied at the College of Arts and Sciences and the School of Economics.