Finance Secretary Carlos G. Dominguez III only recently swore into office former Sen. Alberto G. Romulo as the new chairman of the board of the Development Bank of the Philippines (DBP).
Rogelio V. Garcia, an esteemed member of the Philippine bar, was named director of the bank.
Romulo served as finance, foreign affairs, budget and even as executive secretary under former President Gloria Macapagal-Arroyo.
He returned to head the Department of Foriegn Affairs during the presidency of Benigno C. Aquino III.
He was also a key member of the economic team of President Corazon C. Aquino during the transition period following the 1986 People Power Revolution, undertaking the task of stabilizing the then-central bank and other government financial institutions, which were bankrupt and insolvent at that time.
He served as chairman of both the Land Bank of the Philippines and the Philippine Deposit Insurance Corp., a governor of the Asian Development Bank and alternate governor at the International Monetary Fund. Romulo sat as member of the Monetary Board twice, first during the Corazon Aquino administration and later during the Arroyo presidency.
Romulo, a Doctors 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, was a former member of the Batasang Pambansa and was Deputy Minister at the Department of Labor and Employment.
He served as director of the Manila International Airport Authority and held various high-level positions in the Integrated Bar of the Philippines-Mindanao.
Garcia, completed his law degree at San Beda College in Manila.