Arroyo announces new finance secretary, executive secretary.
MANILA, May 16 Kyodo
Philippine President Gloria Macapagal-Arroyo announced Wednesday the appointment of Energy Secretary Jose Isidro Camacho as the new finance secretary effective June 15 to replace Alberto Romulo, who has been named executive secretary.
Arroyo announced the cabinet reshuffle during a live video conference with participants of the Credit Lyonaise S.A. Investors Forum in Hong Kong.
''We are going to have a changing of the guard soon due to the illness of my Executive Secretary Renato de Villa Renato de Villa (born July 20, 1935) is a political figure in the Philippines and founder of the rightist Partido ng Demokratikong Reporma-Lapiang Manggagawa Party. . Secretary Romulo is moving over to be my new executive secretary and the new finance chief will be Secretary Camacho,'' Arroyo said.
Camacho, an international investment banker Investment Banker
A person representing a financial institution that is in the business of raising capital for corporations and municipalities.
An investment banker may not accept deposits or make commercial loans. for the past 22 years, was appointed to his first government job as the head the Department of Energy on March 1.
The new finance chief, who holds a master's degree in business administration from the Harvard Business School Harvard Business School, officially named the Harvard Business School: George F. Baker Foundation, and also known as HBS, is one of the graduate schools of Harvard University. , was formerly the managing director and chief country officer for the Philippines of Deutsche Bank.
Romulo is a former senator, former budget secretary and a political ally of Arroyo.