Carlos Dominguez III

Carlos Dominguez III
Secretary of Finance
Assumed office
June 30, 2016
President Rodrigo Duterte
Preceded by Cesar Purisima
Secretary of Agriculture
In office
March 9, 1987  1989
President Corazon Aquino
Preceded by Ramon V. Mitra Jr.
Succeeded by Senen C. Bacani
Minister of Natural Resources
In office
December 2, 1986  March 9, 1987
President Corazon Aquino
Preceded by Ernesto M. Maceda
Succeeded by Fulgencio S. Factoran
Personal details
Born Carlos Garcia Dominguez III
(1945-09-16) September 16, 1945
Zamboanga, Zamboanga, Philippine Commonwealth
Nationality Filipino
Spouse(s) Cynthia Andrews
Alma mater Ateneo de Manila University
Stanford University
Profession Businessman

Carlos "Sonny" Garcia Dominguez III (born September 16, 1945)[1] is a Filipino businessman and former chief executive of Philippine Airlines who is the 31st Secretary of Finance under President Rodrigo Duterte. He had previously held the position of Secretary of Agriculture and Minister of Natural Resources under the Corazon Aquino presidential administration.[2] Prior to his appointment to President Duterte's Cabinet, he had served as executive director of PTFC Redevelopment Corp., as independent director of Alsons Consolidated Resources, and as director of United Paragon Mining Corp.[3] His family owns Marco Polo Hotel in Davao City, one of the top hotels in southern Mindanao.[4]

Early life and education

Dominguez comes from a prominent Zamboangueño family in Davao City. Born on September 16, 1945 in Zamboanga, he is the son of Carlos Dominguez II and Virginia Anderson Garcia. His grandfather Carlos Dominguez Sr. was a pre-World War II manager of the Bank of the Philippine Islands (BPI) in Zamboanga.[5] He grew up in Davao and attended elementary and high school at the Ateneo de Davao University where he was a classmate of Rodrigo Duterte.[6] He moved to Manila for his college studies at the Ateneo de Manila University. Dominguez graduated with a Bachelor of Science degree in Economics in 1965 and received a Master of Business Administration from the same university in 1969. He also pursued post-graduate studies in California, U.S. where he completed the Executive Program from Stanford University's Graduate School of Business in 1982.[3]

Career and businesses

Earlier in his career, Dominguez joined the Bank of the Philippine Islands after receiving his Ph.D. from Stanford. He was President of the BPI Agricultural Development Bank for two years before being invited by President Corazon Aquino to join her new government. He assumed the leadership of the Ministry of Natural Resources in 1986 and the Department of Agriculture in 1987 while also serving as Director of the government-owned Land Bank of the Philippines.[6][3]

After leaving government service in 1989, Dominguez entered the tobacco, real estate, retail, mining and energy industries and served in various executive positions in companies such as the Retail Specialist, Inc., Philippine Tobacco Flue-Curing and Redrying Corp., Baesa Redevelopment Corp., Halifax Capital Resources, and United Paragon Mining Corp. He joined the Philippine Airlines in 1993 and served as its Chairman until 1995.[3]

In his long business career after government, Dominguez also worked as Chairman and Director of RCBC Capital Corp. (House of Investments) and President of Shangri-la Plaza Corp., Northern Mindanao Power Corp., Easycall Communications Philippines, Lafayette Philippines, Transnational Diversified Group, Central Azucarera de Don Pedro and as Independent Director of Roxas Holdings. From 2001 to 2003, he served as Director of Meralco.[3] He was also recently involved in the 2016 presidential campaign of his childhood friend and high school classmate Rodrigo Duterte as his fundraising and campaign finance manager.[6]

Personal life

Dominguez is married to Cynthia "Ball" Andrews Dominguez, the daughter of the late Col. Antonio Andrews of the PAF Flying School Class of 1949, and one of the pioneers of the Philippine Air Force. They have four children, Rafael, Mary Edwina, Ignacio and Xavier.[7]

References

Political offices
Preceded by
Ernesto M. Maceda
Minister of Natural Resources
1986–1987
Succeeded by
Fulgencio S. Factoran
Preceded by
Ramon V. Mitra Jr.
Secretary of Agriculture
1987–1989
Succeeded by
Senen C. Bacani
Preceded by
Cesar Purisima
Secretary of Finance
2016–present
Incumbent
Order of precedence
Preceded by
Salvador Medialdea
as Executive Secretary of the Philippines
Order of Precedence of the Philippines
as Secretary of Finance
Succeeded by
Vitaliano Aguirre II
as Secretary of Justice
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