Former Finance Secretary Carlos G. Dominguez III has been tapped by the Ty family’s investment arm GT Capital Holdings Inc. as one of its independent directors.
Dominguez’s election into the GT Capital Board of directors was announced by the conglomerate in a disclosure to the Philippine Stock Exchange.
“We warmly welcome Mr. Dominguez to GT Capital and look forward to his valuable insights and contributions to the company, given his wealth of experience in both the country’s public and private sectors,” GT Capital Chairman Francisco C. Sebastian said.
He noted that, “Mr. Dominguez is certainly supportive of GT Capital’s commitment towards nation building. With his guidance, we are confident that the Group will continue to help grow the Philippine economy.”
Dominguez was the Secretary of the Department of Finance under the administration of President Rodrigo Roa Duterte from 2016 until 2022.
As Finance Secretary, he served as Chairman of the Land Bank of the Philippines (LBP), Philippine Deposit Insurance Corporation (PDIC), and Philippine Guarantee Corporation. In addition, he was a member of the Monetary Board of the Bangko Sentral ng Pilipinas (BSP).
Dominguez also served as the Secretary of the Department of Agriculture and Secretary of the Department of Environment and Natural Resources under the administration of the late President Corazon Cojuangco Aquino.
In the private sector, he was notably the Chairman and President of Philippine Airlines, Chairman of RCBC Capital Corporation, Director of Manila Electric Company (MERALCO), and President of BPI Agricultural Development Bank.
Dominguez will replace Pascual M. Garcia III who served as a Director of GT Capital. Garcia will remain in GT Capital as an Adviser to its Board of Directors.