The Filipino Profiles

Hon. Margarito B. Teves is the current Secretary of the Department of Finance, appointed by Gloria Macapagal Arroyo on 12 July 2005. He is also a former Congressman of the 3rd District of Negros Oriental. 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 1 September 2000. The good financial performance of the state-owned bank is credited to his leadership.

In 2008, Teves was honored by the London-based magazine The Banker as The Best Finance Minister for Asia for his ardent efforts to rise amidst the global economic crisis in the Philippines.

His political career started in July 1987 when he was elected as Congressional representative of the 3rd District of Negros Oriental. Teves 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 and reduce foreign debt.

While in Congress, 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 in June 1998.

Before his stint as a banker, Teves was connected with the economic forecasting agency Think Tank, Inc. where he served as Chairman and CEO from July 1998 to August 2000.

Other Information

• Name : Margarito B. Teves
• Schools Attended :
• Bachelor of Arts, Spain’s Universidad Central de Madrid (1961)
• Higher Education in Business Studies, City of London College, England (1965)
• Master’s degree in Development Economics, Williams College, Massachusetts, USA (1968)

Career Highlights

• Secretary of the Department of Finance, Incumbent
• President and CEO, Land Bank of the Philippines (since September 01, 2000)
• Chairman and CEO, Think Tank ( July 1998 to August 2000)
• Congressman, 3rd District of Negros Oriental (1987)

Links

• dof.gov.ph