FINANCE Secretary Carlos Dominguez 3rd swore into office Rosalia de Leon as the new National Treasurer, replacing Roberto Tan, who was also sworn in as the new president of the Philippine Deposit Insurance Corp. (PDIC) on Friday.
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 also served previously as National Treasurer from 2013 to 2015.
De Leon was a former 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.
At the DOF, De Leon also task managed the first successful Brady Bond Exchange in 1996 that set a Philippine benchmark in the international debt market. Also in 1996, she task managed the RP Samurai bonds issue, which marked the country’s return to the Japanese bond market after 20 years.
As undersecretary and head of the DOF’s International Finance Group (IFG) from September 2010 to January 2012, she guided the setting up of the Millennium Challenge Account – Philippines following the signing of the compact program with the Millennium Challenge Corporation from the US.
As National Treasurer starting 2013, De Leon led the implementation of the Treasury Single Account as part of the Public Financial Management reforms initiated by the government. The TSA made it easier to manage the cash holdings of the National Government thereby improving the efficiency of Treasury operations.
De Leon also headed the successful hosting of the 45th Asian Development Bank Board of Governors’ Meeting in 2012 and the country’s hosting of the World Economic Forum on East Asia in 2014.
De Leon 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.
Tan was the National Treasurer since 2015 and had served in the Bureau of the Treasury (BTr) from 2008 to 2012 before assuming the position of Executive Director at the World Bank in Washington D.C. He started at the DOF’s International Finance Group in 1991, and was later named Assistant Secretary in 1999. He was appointed Undersecretary in 2005 before being named National Treasurer in 2008.
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.