Carlos “Sonny” Garcia Dominguez III (born 16 September 1945) is a Filipino businessman and the current Secretary of Finance under President Rodrigo Duterte. His family owns several businesses in Davao City, including the Marco Polo Hotel, and real estate developments.
He is married to Cynthia "Ball" Andrews Dominguez, the daughter of the late Colonel Antonio Andrews of the PAF Flying School Class of 1949, and one of the pioneers of the Philippine Air Force. They have four children, Rafael, Mary Edwina, Ignacio and Xavier.
Early life and education
Dominguez comes from a prominent Zamboangueño family in Davao. He was born on 16 September 1945 to Carlos Dominguez II and Virginia Anderson Garcia. His grandfather Carlos Dominguez Sr. was a pre-World War II manager of the Bank of the Philippine Islands (BPI) in Zamboanga.
He graduated with honors from the Ateneo de Davao grade school in 1957 and as salutatorian from the Ateneo high school in 1961. Dominguez and Duterte were classmates in Ateneo. He obtained his Bachelor of Arts degree, major in Economics, and his Master in Business Administration degree in 1965 and 1969, respectively, from the Ateneo de Manila. He received his Ph.D. from the Stanford University in 1982.
In 1973, he taught at the Ateneo Graduate School of Business and became a member of the Board of Trustees of the University. For the next 22 years, he continued to serve in the Board and became chairman from 1982 to 1995.
He joined BPI and later became President of the BPI Agricultural Development Bank and served from 1984 to 1986 before being invited by the President Corazon Aquino to join her government. He headed the Ministry of Natural Resources in 1986 and the Department of Agriculture in 1987 while also serving as Director of the government-owned Land Bank of the Philippines.
He also served as chairman of Republic Planters Bank from 1988 to 1992. He was EVP and chief operating officer from 1976 to 1983 of JVA Management Corp, Davao Fruits Corp., Hijo Plantation, Inc. and Twin Rivers Plantation, Inc.; chairman from 1977 to 1983 of the Banana Growers Association; and EVP from 1973 to 1976 of AMS Farming Corporation and Soriano Fruits Corporation.
In the 2016 presidential campaign, he served as fundraising and campaign finance manager of Duterte.
Dominguez is chairman and president of the Philippine Tobacco Flue-Curing and Redrying Corporation, Baesa Redevelopment Corporation, C.G. Dominguez and Associates Inc., Retail Specialists Inc. Huntly Corporation, The Linden Suites Inc., and Halifax Capital Resources Inc.
He is also the chairman of RCBC Capital Corporation, Alip River Development and Export Corp., Intelligent Agro-Technical Resources Inc., and member of the Board of Directors of the following: Alsons Consolidated Resources Inc., United Paragon Mining Corp., Central Azucarera Don Pedro for the publicly-listed companies and Shangri-La Plaza Corp., Northern Mindanao Power Corporation for the privately-held companies.
Dominguez is a member of various civic and social organizations, among which are the Philippine Eagle Foundation, Foundation of Development Through Education, Philippine Business for Social Progress and the Philippine Dairy Foundation.
Awards and recognition
- 2005 Outstanding Alumnus, Ateneo de Davao University
- Degree of Doctor of Philosophy in the Humanities, honoris causa, Ateneo de Davao University, 1997
- “Carlos Dominguez III”.Duterte News.(Accessed on 20 January 2017).
- Ranada, Pia.“After hesitating, Dominguez accepts Finance post”.Rappler.(Accessed on 20 January 2017).
- “PNR OFFICIAL SITE - HON. CARLOS G. DOMINGUEZ III”.Philippine National Railways.(Accessed on 20 January 2017).