MANILA-- Finance Secretary Carlos Dominguez III on Friday swore into office former National Treasurer Roberto Tan as the new president of state insurance agency, Philippine Deposit Insurance Corporation (PDIC).
Tan, who headed the Bureau of the Treasury (BTr) from 2008 to 2012, and from 2015 until this week, was replaced by former National Treasurer Rosalia de Leon, who in turn served as BTr chief from 2013 to 2015.
Tan was initially substituted by De Leon at the BTr after he assumed the Executive Director post at the World Bank (WB) in Washington DC.
He first worked at the Department of Finance (DOF) under the International Finance Group (IFG) in 1991, and was later named Assistant Secretary in 1999. He was appointed Undersecretary in 2005 before being heading the BTr.
Among the major transactions he spearheaded at BTr are the Liability Management transactions designed to reduce funding costs, extend the maturity profile and redenominate foreign exchange liabilities to local currency.
He has also served other offices such as the Asian Development Bank (ADB), PCI Bank, Department of Trade and Industry (DTI) and at the National Economic and Development Authority (NEDA).
He holds a Master in Business Administration degree from the Ateneo de Manila University, where he also completed his Bachelor of Arts in Economics. He took up doctoral studies and completed his Master of Arts in Economics at Fordham University in New York.
Meanwhile, De Leon served as Alternate Executive Director for the same World Bank group previously led by Tan.
She also served as chief of staff to the Secretary of Finance from July 2005 to June 2010, and advisor to the Executive Director of the Asian Development Bank (ADB)
She was instrumental for the success of the government's Brady Bond Exchange in 1996 that set a Philippine benchmark in the international debt market and the Samurai bond issuance in 1996.
She graduated from the University of the Philippines (UP) with a Bachelor of Arts in Economics degree and a Master of Arts in Development Economics degree from Williams College in Massachusetts. (PNA)
Source: Philippines News Agency