Carlos Dominguez III

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Carlos Domínguez III
Finance Secretary Carlos Dominguez III (cropped).jpg
31st Secretary of Finance
Assumed office
July 1, 2016
PresidentRodrigo Duterte
Preceded byCesar Purisima
Secretary of Agriculture
In office
March 9, 1987 – December 31, 1989
PresidentCorazon Aquino
Preceded byRamon V. Mitra Jr.
Succeeded bySenen C. Bacani
Minister of Natural Resources
In office
October 25, 1986 – March 9, 1987
PresidentCorazon Aquino
Preceded byErnesto M. Maceda
Succeeded byFulgencio S. Factoran
Personal details
Born
Carlos García Domínguez III

(1945-09-16) September 16, 1945 (age 73)
Zamboanga, Zamboanga, Philippine Commonwealth
NationalityFilipino
Political partyPDP-Laban
Spouse(s)Cynthia Andrews
Alma materAteneo de Manila University
ProfessionBusinessman, Politician

Carlos "Sonny" García Domínguez 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[edit]

Domínguez comes from a prominent Zamboangueño family in Davao City. Born on September 16, 1945 in Zamboanga, he is the son of Carlos Domínguez II and Virginia Anderson García. His grandfather Carlos Domínguez 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. Domínguez 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[edit]

Earlier in his career, Domínguez joined the Bank of the Philippine Islands after finishing a short executive course 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, Domínguez 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, Domínguez 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 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[edit]

Domínguez is married to Cynthia "Ball" Andrews, 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[edit]

  1. ^ "Cabinet – DuterteWatch". Sun.Star. Retrieved 11 August 2016.
  2. ^ Amio A./PNA (19 May 2016). "Dominguez accepts Finance post; Aguirre is incoming DOJ chief". Manila Bulletin. Retrieved 4 July 2016.
  3. ^ a b c d e "Carlos Garcia Dominguez BA, MBA, Ph.D.: Executive Profile & Biography". Bloomberg L.P. Retrieved 4 July 2016.
  4. ^ Dancel, R. (16 May 2016). "Philippine President-elect Rodrigo Duterte's men". The Straits Times. Retrieved 4 July 2016.
  5. ^ "BPI Foundation". Bank of the Philippine Islands. Retrieved 11 August 2016.
  6. ^ a b c Macas, T. (9 May 2016). "Duterte hints at possible Cabinet appointments". GMA Network. Retrieved 4 July 2016.
  7. ^ Farolan, R. (16 May 2016). "Sonny Dominguez lugs his own garment bag". Philippine Daily Inquirer. Retrieved 4 July 2016.
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
Karlo Nograles
as Cabinet Secretary of the Philippines
Order of Precedence of the Philippines
as Secretary of Finance
Succeeded by
Menardo I. Guevarra
as Secretary of Justice