Maceda Jr gives GMA free hand to fill SEC vacancy

Appointed as associate commissioner of the Securities and Exchange Commission (SEC) barely two weeks before the change in the country’s leadership, Ernesto Maceda Jr. has opted to give newly-installed President Gloria Macapagal-Arroyo a free hand in choosing an "appointee of her confidence."

In a letter to the President, Maceda intimated that out of a sense of delicadeza, he voluntary opted not to take his oath and still considers the position vacant.

Former President Joseph Estrada approved Maceda’s appointment last Jan. 8, almost two weeks before EDSA People Power 2. His seven-year term is supposed to have taken effect starting Feb. 1.

SEC sources said Malacanang has reportedly come up with a short list of candidates to fill up the vacancy in the five-man collegial body. President Arroyo, however, said she would respect the security of tenure of some government officials while concentrating only on "rebuilding the nation and reviving the economy."

The 36-year-old Maceda, a Bar topnotcher and holder of a masters, degree in law from Columbia University was expected to replace former associate commissioner Danila Concepcion, who has been a SEC-appointed liquidator of the cash-strapped National Steel Corp.

The appointment of Maceda should have completed the SEC’s highest decision-making body composed of Chairman Lilia Bautista and associate commissioners Edijer Martinez, Fe Eloisa Gloria and Joselia Poblador.

Prior to his appointment, Maceda served as chief of staff of House Speaker Arnulfo Fuentebella, a long-time family friend.

Belonging to a political clan with two siblings holding elective posts in Manila and Laguna, Maceda himself was a two-time councilor in Manila, serving from 1988 to 1995.