## Core Insight "Bato of Finance" is a satirical nickname given to Government Service Insurance System (GSIS) President and General Manager Jose Arnulfo "Wick" Veloso by local market observers. The moniker draws a humorous comparison between Veloso's bald appearance and Senator Ronald "Bato" dela Rosa, a prominent bald political figure in the Philippines. ## Context The nickname circulated in social media discussions ($SECB) in January 2023 following reports that the GSIS had aggressively increased its equity stake in Security Bank Corporation (SECB). Under Veloso's leadership, the state pension fund increased its holding by 51%, accumulating over 38 million common shares (representing a stake of over 5%). This aggressive accumulation marked a shift in GSIS strategy toward more active deployment of capital in local equities, leveraging Veloso's background as a veteran investment banker. ![[20230128_073039000_iOS.jpg]] ## References - [[3 Archives/assets/20230128_073039000_iOS.jpg]] — BOL Hwang (@BOLHwang) tweet screenshot, January 2023 - Bilyonaryo report: *The state pension fund is betting big on Security Bank of bilyonaryo Frederick Dy* (January 26, 2023) *Source: [[3 Archives/assets/20230128_073039000_iOS.jpg]] (BOL Hwang, Twitter, January 2023) — https://bilyonaryo.com/2023/01/26/the-state-pension-fund-is-betting-big-on-security-bank-of-bilyonaryo-frederick-dy/property/*