Former Sen. Alberto G. Romulo took his oath last week as the new chairman of the board of the Development Bank of the Philippines (DBP) before Finance Secretary Carlos G. Dominguez III .
Rogelio Garcia also took his oath of office as a director of the DBP board.
Romulo brings to the DBP his extensive experience in both the executive and legislative branches of government.
He has served as the Secretary of the Department of Finance (DOF) and of Foreign Affairs (DFA), budget minister, and also as Executive Secretary in the Arroyo administration. He returned to head the DFA during the presidency of Benigno Aquino III. Romulo is also Vice Chairman and Independent Director of Manila Bulletin Publishing Corp. since July 14, 2011.
As DFA Secretary, Romulo had pushed for the congressional approval of the Philippine Archipelagic Baselines Law, which, prior to his watch, had not been acted upon for 27 years. His efforts to have the law passed paved the way for the government to secure its claim in the United Nations for an extended continental shelf covering an area as big as Luzon.
Romulo has likewise served as chairperson of both the Land Bank of the Philippines and the Philippine Deposit Insurance Corp., a governor of the Asian Development Bank and alternate governor in the International Monetary Fund. He sat as member of the Monetary Board twice – first during the Corazon Aquino administration and later during the Arroyo presidency.
Having served as senator in the 8th, 9th and 10th Congresses, Romulo authored and sponsored several landmark pieces of economic legislation, among them, the Republic Act 7653 or the New Central Bank Act, RA 8282 that further strengthened the Social Security System, RA 7169 or the Philippine Veterans Bank Act, and RA 7640 or the law constituting the Joint Legislative-Executive Development Advisory Council.
Romulo, a Doctor of Laws, completed his doctorate at the Universidad de Madrid. He is also a certified public accountant.
Garcia, a practicing lawyer prior to his appointment to the DBP, is a former member of the Batasang Pambansa and was Deputy Minister in the Department of Labor and Employment.
He had served as director of the Manila International Airport Authority and held various high-level positions in the Integrated Bar of the Philippines-Mindanao.
Garcia is also the PDP-Laban regional president for the South Cotabato-Cotabato-Sultan Kudarat-Saranggani-General Santos region. He completed his law degree at San Beda College in Manila.