Governor Jose B. Fernandez Jr., at age 36 in 1960, was the founding President of Far East Bank and Trust Company (FEBTC). He served at the helm of Far East Bank for nearly 25 years, until he accepted a call to public service becoming Central Bank Governor in 1984. Under his stewardship, FEBTC grew from a fledgling commercial bank into one of the country's biggest universal banks with a broad ownership base and multinational equity linkages.

He was a pillar of strength, an acknowledged leader in the private commercial banking sector. He was President of the Bankers Association of the Philippines (BAP) for three years and was regularly invited to attend annual meetings of the International Monetary Fund (IMF) and the International Bank for Reconstruction and Development of the World Bank. He was also one of the pioneers in the establishment of the Pacific Basin Economic Council (PBEC), an international forum that foreshadowed the establishment of the Asia-Pacific Economic Cooperation Council (APEC). As an industry leader, one of his enduring legacies is his immense contribution to the training of competent managers of the Philippine banking and financial services sectors.

Gov. Fernandez's tenure as Central Bank Governor from 1984 to 1990 coincided with the most turbulent era in contemporary Philippine history. He assumed office in the aftermath of the assassination of former Senator Benigno Aquino which plunged the Philippines into its most serious postwar economic crisis. During a period when the credibility of the country's economic management system plunged to an all-time low, he served both as a steadying and unifying influence that regained for the Philippines the confidence of global financial and capital markets.

As one of the founding trustees of the Asian Institute of Management (AIM) established in 1968, Gov. Fernandez served continuously as a Trustee until he passed away on June 19, 1994.

On September 22, 1994, the 71st birth anniversary of the late Central Bank Governor, FEBTC and AIM, together with his widow Mrs. Maria Dulce Cacho-Fernandez, established the Governor Jose B. Fernandez Jr. Center for Banking and Finance (JBF Center), dedicated to research and the education of the financial managers in Asia.