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The Honorable
MARGARITO B. TEVES |
Secretary |
Department of
Finance |
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Mr. Margarito B. Teves was appointed
Finance Secretary on July 12, 2005. His professional life boasts of a long and
multi-faceted career as a banker, an economist and a lawmaker. Before assuming the top
post of the Department of Finance, Mr. Teves was President and CEO of the Land Bank of the
Philippines since September 1, 2000. The good financial performance of the state-owned
bank is credited to his leadership.
Mr. Teves’ affiliations include chairmanship of several LBP-affiliated corporations,
People’s Credit and Finance Corporation and the Philippine Crop Insurance
Corporation. He is a council member of the National Food Authority and Food Terminal, Inc.
He is also a board member of the Manila Electric Company (Meralco) and PhilEquity Fund,
Inc.
Before his stint as a banker, Mr. Teves was connected with the economic forecasting agency
Think Tank, Inc. where he served as Chairman and CEO from July 1998 to August 2000.
His political career started on July 1987 when he was elected as Congressional
representative of the 3rd District of Negros Oriental. Mr. Teves, the lawmaker, crafted
several laws and bills, including Republic Act 7221 that liberalized the entry and scope
of operations of foreign banks in the country, Republic Act 6911 or the Magna Carta for
Small Enterprises and Republic Act 8293, an Act amending the Patents, Trademarks and
Copyright Laws of the country. He also authored the law that amended parts of the National
Internal Revenue Code, and the law that established the Overseas Investment Fund to
provide incentives to overseas workers & reduce foreign debt.
Mr. Teves also took part in crafting the New Central Bank Act (RA 7653), in creating the
Cooperative Development Authority (RA 6939) and the restructuring of the excise tax on
petroleum products (RA 8184).
While in Congress, Mr. Teves became chairman of the Committee on Rural Development and the
Committee on Economic Affairs. He also became a member of several Standing and Special
committees. After serving three consecutive terms, his tenure in Congress ended on June
1998.
His service to civil society involved past presidency of the Philippine Economic Society
and member of the Makati Business Club. He founded the Corporate Planning Society of the
Philippines and was also a former trustee of the Philippine Futuristics Society.
Mr. Teves took up Bachelor of Arts at the Universidad Central de Madrid, Spain in 1961. He
earned his diploma in Higher Education Diploma in Business Studies in 1965 at the City of
London College in England. In 1968, he finished his master’s degree in Development
Economics from Williams College, Massachusetts, USA. |
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