PRESIDENT Rodrigo Duterte has appointed Rosalia de Leon as the new National Treasurer, replacing Roberto Tan, who has been named as the new president of the Philippine Deposit Insurance Corp. (PDIC).
The two officials took their oath of office before Finance Secretary Carlos Dominguez III.
Before taking her oath of office as the new National Treasurer, De Leon was the Alternate Executive Director for the same World Bank group previously led by Tan. She had previously held the post of National Treasurer from 2013 to 2015.
She was also formerly the chief of staff to the Secretary of Finance from July 2005 to June 2010, and was advisor to the Executive Director of the Asian Development Bank group comprising the constituency of the Philippines, Pakistan, Maldives, Marshall Islands, Mongolia and Kazakhstan.
In her career at the DOF, her extensive experience in mobilizing funds from the international capital markets covered the successful launch of the 1998 ROP Global Bonds in the aftermath of the Asian financial crisis.
De Leon also task-managed the first successful Brady Bond Exchange in 1996 that set a Philippine benchmark in the international debt market.
She completed her Bachelor of Arts in Economics degree at the University of the Philippines School of Economics. She has a Master of Arts in Development Economics degree from Williams College in Massachusetts.
On the other hand, Tan, who was the National Treasurer since 2015, also served in the same Bureau of Treasury (BTr) post from 2008 to 2012 before assuming the position of Executive Director at the World Bank in Washington D.C.. He started at the Finance Department’s International Finance Group (IFG) in 1991, and was later named Assistant Secretary in 1999. He was appointed Undersecretary in 2005 before being named National Treasurer in 2008.
In his stint as Office-in-Charge of the Department of Finance’s International Finance Group (IFG), Tan represented the DOF in several international fund mobilization activities for public sector entities as well as formulated borrowing strategies and appropriate credit enhancements to access least cost financing options for the National Government.
As head of the BTr, Tan spearheaded several landmark transactions, particularly Liability Management transactions designed to reduce funding costs, extend the maturity profile and redenominate foreign exchange liabilities to local currency.
Tan briefly left the DOF in 2012 to serve as Executive Director of the World Bank group that covers the Philippines, Brazil, Colombia, Dominican Republic, Ecuador, Haiti, Panama, Suriname, and Trinidad and Tobago.
He has also held various posts in other institutions such as the Asian Development Bank, PCI Bank, Department of Trade and Industry and at the National Economic and Development Authority.
Tan 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. (SDR/SunStar Philippines)