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{{short description|Filipino banker|bot=PearBOT 5}}
{{Infobox Senator
{{Infobox officeholder
| name = Jose Isidro Camacho
| name = Jose Isidro Camacho
| image =
| image = Jose Isidro N. Camacho - World Economic Forum on East Asia 2010.jpg
| imagesize = 100px
| imagesize =
| smallimage =
| smallimage =
| caption =
| caption = Jose Isidro Camacho at the [[World Economic Forum]] on East Asia in 2010
| order =
| order =
| office = [[Department of Finance (Philippines)|Secretary of Finance]]
| office = [[University of the Arts Singapore|Chairperson of University of the Arts Singapore]]
| president = [[Gloria Macapagal-Arroyo]]
| president =
| term_start = June 15, 2001
| term_start = September 1, 2024
| term_end = November 30, 2003
| term_end =
| predecessor = [[Alberto Romulo]]
| predecessor = ''Inaugural Holder''
| successor = [[Juanita Amatong]]
| successor =
| office1 = [[Department of Energy (Philippines)|Secretary of Energy]]
| office1 = [[Department of Finance (Philippines)|Philippine Secretary of Finance]]
| president1 = [[Gloria Macapagal-Arroyo]]
| president1 = [[Gloria Macapagal Arroyo]]
| term_start1 = March 1, 2001
| term_start1 = June 15, 2001
| term_end1 = June 14, 2001
| term_end1 = November 30, 2003
| predecessor1 = Mario Tiaoqui
| predecessor1 = [[Alberto Romulo]]
| successor1 = Vincent S. Perez
| successor1 = [[Juanita Amatong]]
| office2 = [[Department of Energy (Philippines)|Philippine Secretary of Energy]]
⚫
| birth_date =
| birth_place =
| president2 = [[Gloria Macapagal Arroyo]]
| term_start2 = March 1, 2001
| term_end2 = June 15, 2001
| predecessor2 = Mario Tiaoqui
| successor2 = [[Vincent S. Perez]]
| birth_name = Jose Isidro Navato Camacho
⚫
| birth_date = {{Birth date and age|1955|7|20}}
| birth_place = [[Balanga, Bataan]], [[Philippines]]
| death_date =
| death_date =
| death_place =
| death_place =
| nationality = [[Filipino people|Filipino]]
| nationality = [[Filipino people|Filipino]]
| party =
| party =
| spouse =
| spouse = Ma. Clara "Kim" Acuña
| relations =
| relations =
| children =
| children = Bea, Lorenzo, Carlos, Anuncia, Joaquin and Simon<ref name="1b" />
| residence =
| residence = [[Singapore]]
| alma_mater = [[De La Salle University]] ([[Bachelor of Arts|AB]]) <br> [[Harvard University]] ([[Master in Business Administration|MBA]])
| alma_mater =
| occupation =
| occupation =
| religion =
| religion =
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| footnotes =
| footnotes =
}}
}}
'''Jose Isidro "Lito" Navato Camacho''' is a [[Filipino people|Filipino]] [[banker]] who served as the [[Philippines]]' Secretary of [[Department of Energy (Philippines)|Energy]] and later on as [[Department of Finance (Philippines)|Finance]] under [[President of the Philippines|President]] [[Gloria Macapagal Arroyo]].
'''Jose Isidro N. "Lito" Camacho''' is the current Managing Director and Vice Chairman of [[Credit Suisse|Credit Suisse Asia Pacific]] and Chairman of the Board of [[Sun Life Financial|Sun Life of Canada (Philippines), Inc.]]<ref>{{cite web|url=http://www.sunlife.com.ph/slfglobal/v/index.jsp?vgnextoid=4e1b41f3db934210VgnVCM100000abd2d09fRCRD&vgnextchannel=672bc01830062210VgnVCM1000009b80d09fRCRD&vgnLocale=en_CA|title=Sun Life Of Canada (Philippines), Inc. Names Jose Isidro N. Camacho Chairman Of The Board
|publisher=Sun Life Financial Philippines|accessdate= March 21, 2010}}</ref><ref>{{cite web|url=http://www.abs-cbnnews.com/business/10/06/09/ex-finance-chief-new-sun-life-chair
|title=Ex-finance chief is new Sun Life chair|publisher= abs-cbnNEWS.com |accessdate= March 21, 2010}}</ref>


After his short stint in the government, he returned to the private sector, and now serves as Vice-Chairman of [[Credit Suisse]] of Asia–Pacific and its [[Singapore]] Country Chief Executive Officer; Non-Executive Chairman of [[Sun Life Financial|Sun Life of Canada (Philippines)]]; director of SymAsia Foundation (Singapore), and member of the board of [[National Gallery Singapore]]. He is also a member of the Group of Experts of the ASEAN Capital Markets Forum, Singapore's Securities Industry Council, and the International Advisory Panel of the Securities Commission of [[Malaysia]].<ref name="wef" />
Camacho also served in the [[Cabinet (government)|Cabinet]] of [[Gloria Macapagal-Arroyo]] briefly as [[Department of Energy (Philippines)|Energy Secretary]], before becoming the [[Department of Finance (Philippines)|Secretary of Finance]] until his resignation from government service in 2003.<ref>{{cite web|url=http://www.news.ops.gov.ph/archives2003/nov21.htm
|title=GMA accepts Camacho's resignation, names Finance Undersecretary Amatong as replacement|publisher= Office of the Press Secretary |accessdate= March 21, 2010}}</ref><ref>{{cite web|author= Sol Jose Vanzi |url=http://www.newsflash.org/2003/05/pe/pe002783.htm |title=GMA respects Camacho resignation; Amatong is 'Officer-in-Charge'|publisher= Philippine Headline News Online |accessdate= March 21, 2010}}</ref>


==Notes==
== Personal life ==
Camacho was born in [[Balanga, Bataan]] to Teodoro Camacho, Jr. and Leonarda Navato. His grandfather, Teodoro Camacho, Sr. was [[Legislative districts of Bataan|congressman]] and governor of [[Bataan]].<ref name="1b">{{cite web| url = http://www.1bataan.com/whos-who-in-bataan-jose-isidro-navato-camacho/?404;http://www.1bataan.com:80/whos-who-in-bataan-jose-isidro-navato-camacho/ | title = Who's Who in Bataan – Jose Isidro Navato Camacho | date = 14 April 2016 | accessdate = 2016-04-22| publisher = 1Bataan}}</ref>

He finished high school [[Don Bosco Technical College|Don Bosco Technical Institute]] in Mandaluyong in 1972,<ref>{{cite web|url=http://www.dbtc.edu.ph/dbtc7/downloads/dbtchistory.pdf |archive-url=https://web.archive.org/web/20110716215527/http://www.dbtc.edu.ph/dbtc7/downloads/dbtchistory.pdf |url-status=dead |archive-date=2011-07-16 |title=History of DBTC |accessdate=2016-04-22 |publisher=[[Don Bosco Technical College]] }}</ref> and in 1975 he graduated cum laude with an A.B. Mathematics degree from [[De La Salle University]] in Manila. He studied and obtained an [[MBA]] with a concentration on Finance from [[Harvard Graduate School of Business Administration]] in the [[United States]] in 1979.<ref name="wef">{{cite web| url = https://www.weforum.org/people/jose-isidro-camacho/ | title = Jose Isidro Camacho | publisher = [[World Economic Forum]] |accessdate = 2016-04-22}}</ref>

== Professional career ==
After college, Camacho worked at [[Banco Filipino]], before he left to pursue graduate studies in the United States. Upon his return to the Philippines, he went back to the banking industry, and in 1995 became Senior Managing Director and Country Head of [[Bankers Trust New York]]. Later on, he became Managing Director and Chief Country Officer of [[Deutsche Bank]] in the Philippines. From 1999 to 2000, he was Managing Director and chief of Country Coverage for Investment Banking for the Asian Region of Deutsche Bank based in Singapore.<ref name="1b" />

== Government service ==
Camacho was appointed Energy Secretary by Philippine President Gloria Macapagal Arroyo when she took office in 2001. During his tenure, much needed reforms in the country's power sector were passed into law.<ref name="wef" />

On his third month as Energy Secretary, he was reassigned by Macapagal-Arroyo as Secretary of Finance, a post he held until November 2003 when he returned to the private sector. Upon his resignation as Secretary, news of the President's inaction on Camacho's recommendations for the [[Government Service Insurance System]] was perceived to have prompted it.<ref>{{cite news| url = https://news.google.com/newspapers?nid=2479&dat=20031125&id=8bhjAAAAIBAJ&sjid=eyUMAAAAIBAJ&pg=1651,13390238&hl=en | newspaper = [[Philippine Daily Inquirer]] | last = Napallacan | first = Jhunnex | title = Garcia: Don't blame me for Camacho's resignation| accessdate = 2016-04-22 | date = 2003-11-25}}</ref> His resignation brought anxieties and uncertainties in the government and caused the [[Philippine|peso]] to plummet against the [[United States dollar|dollar]] to a record low.<ref name="cnnr" /> Camacho was recognized for his significant contributions in managing and stabilizing the country's fiscal deficit,<ref name="cnnr">{{cite web| url = http://edition.cnn.com/2003/BUSINESS/11/24/philippines.camacho.reut/ | title = Peso dips after Camacho goes | accessdate = 2016-04-22 | date = 2003-11-24 | publisher = [[CNN]]}}</ref> and was even acknowledged by several groups of businessmen and investors as one of the best Finance secretaries the Philippines has ever had.<ref>{{cite news | url = https://news.google.com/newspapers?nid=2479&dat=20031121&id=77hjAAAAIBAJ&sjid=eyUMAAAAIBAJ&pg=1539,11402577&hl=en| newspaper = [[Philippine Daily Inquirer]] | accessdate = 2016-04-22 | date = 2003-11-21 | title = Camacho resigns; peso hits record low | last1 =Batino | first1= Clarissa S.|last2 = Cabacungan| first2= Gil|last3 =Dumlao | first3= Dorris |last4 = Torrijos| first4= Elena R.}}</ref> The country's ''[[Anti-Money Laundering Council (Philippines)|Anti-Money Laundering Law]]'' (R.A. 9160) was also passed under his tenure.

==References==
{{reflist}}
{{reflist}}
{{Asia-business-bio-stub}}
{{Philippines-bio-stub}}
⚫
{{DEFAULTSORT:Camacho, Jose Isidro}}


{{s-start}}
{{s-gov}}
{{s-bef|before=[[Alberto Romulo]]}}
{{s-ttl|title=[[Secretary of Budget and Management]]|years=2001–2003}}
{{s-aft|after=[[Juanita Amatong]]}}
|-
{{s-bef|before=Mario Tiaoqui}}
{{s-ttl|title=[[Secretary of Energy (Philippines)|Secretary of Energy]]|years=2001}}
{{s-aft|after=Vincent S. Perez}}
{{s-end}}

{{Macapagal-Arroyo cabinet}}
{{Credit Suisse}}

⚫
{{DEFAULTSORT:Camacho, Jose Isidro}}
[[Category:Filipino bankers]]
[[Category:Filipino bankers]]
[[Category:Living people]]
[[Category:Secretaries of finance of the Philippines]]
[[Category:Secretaries of energy of the Philippines]]
[[Category:Credit Suisse people]]
[[Category:1955 births]]
[[Category:Arroyo administration cabinet members]]
[[Category:De La Salle University alumni]]
[[Category:Harvard Business School alumni]]

Latest revision as of 07:00, 18 August 2024

Jose Isidro Camacho
Jose Isidro Camacho at the World Economic Forum on East Asia in 2010
Chairperson of University of the Arts Singapore
Incumbent
Assumed office
September 1, 2024
Preceded byInaugural Holder
Philippine Secretary of Finance
In office
June 15, 2001 – November 30, 2003
PresidentGloria Macapagal Arroyo
Preceded byAlberto Romulo
Succeeded byJuanita Amatong
Philippine Secretary of Energy
In office
March 1, 2001 – June 15, 2001
PresidentGloria Macapagal Arroyo
Preceded byMario Tiaoqui
Succeeded byVincent S. Perez
Personal details
Born
Jose Isidro Navato Camacho

(1955-07-20) July 20, 1955 (age 69)
Balanga, Bataan, Philippines
SpouseMa. Clara "Kim" Acuña
ChildrenBea, Lorenzo, Carlos, Anuncia, Joaquin and Simon[1]
ResidenceSingapore
Alma materDe La Salle University (AB)
Harvard University (MBA)

Jose Isidro "Lito" Navato Camacho is a Filipino banker who served as the Philippines' Secretary of Energy and later on as Finance under President Gloria Macapagal Arroyo.

After his short stint in the government, he returned to the private sector, and now serves as Vice-Chairman of Credit Suisse of Asia–Pacific and its Singapore Country Chief Executive Officer; Non-Executive Chairman of Sun Life of Canada (Philippines); director of SymAsia Foundation (Singapore), and member of the board of National Gallery Singapore. He is also a member of the Group of Experts of the ASEAN Capital Markets Forum, Singapore's Securities Industry Council, and the International Advisory Panel of the Securities Commission of Malaysia.[2]

Personal life

[edit]

Camacho was born in Balanga, Bataan to Teodoro Camacho, Jr. and Leonarda Navato. His grandfather, Teodoro Camacho, Sr. was congressman and governor of Bataan.[1]

He finished high school Don Bosco Technical Institute in Mandaluyong in 1972,[3] and in 1975 he graduated cum laude with an A.B. Mathematics degree from De La Salle University in Manila. He studied and obtained an MBA with a concentration on Finance from Harvard Graduate School of Business Administration in the United States in 1979.[2]

Professional career

[edit]

After college, Camacho worked at Banco Filipino, before he left to pursue graduate studies in the United States. Upon his return to the Philippines, he went back to the banking industry, and in 1995 became Senior Managing Director and Country Head of Bankers Trust New York. Later on, he became Managing Director and Chief Country Officer of Deutsche Bank in the Philippines. From 1999 to 2000, he was Managing Director and chief of Country Coverage for Investment Banking for the Asian Region of Deutsche Bank based in Singapore.[1]

Government service

[edit]

Camacho was appointed Energy Secretary by Philippine President Gloria Macapagal Arroyo when she took office in 2001. During his tenure, much needed reforms in the country's power sector were passed into law.[2]

On his third month as Energy Secretary, he was reassigned by Macapagal-Arroyo as Secretary of Finance, a post he held until November 2003 when he returned to the private sector. Upon his resignation as Secretary, news of the President's inaction on Camacho's recommendations for the Government Service Insurance System was perceived to have prompted it.[4] His resignation brought anxieties and uncertainties in the government and caused the peso to plummet against the dollar to a record low.[5] Camacho was recognized for his significant contributions in managing and stabilizing the country's fiscal deficit,[5] and was even acknowledged by several groups of businessmen and investors as one of the best Finance secretaries the Philippines has ever had.[6] The country's Anti-Money Laundering Law (R.A. 9160) was also passed under his tenure.

References

[edit]
  1. ^ a b c "Who's Who in Bataan – Jose Isidro Navato Camacho". 1Bataan. 14 April 2016. Retrieved 2016-04-22.
  2. ^ a b c "Jose Isidro Camacho". World Economic Forum. Retrieved 2016-04-22.
  3. ^ "History of DBTC" (PDF). Don Bosco Technical College. Archived from the original (PDF) on 2011-07-16. Retrieved 2016-04-22.
  4. ^ Napallacan, Jhunnex (2003-11-25). "Garcia: Don't blame me for Camacho's resignation". Philippine Daily Inquirer. Retrieved 2016-04-22.
  5. ^ a b "Peso dips after Camacho goes". CNN. 2003-11-24. Retrieved 2016-04-22.
  6. ^ Batino, Clarissa S.; Cabacungan, Gil; Dumlao, Dorris; Torrijos, Elena R. (2003-11-21). "Camacho resigns; peso hits record low". Philippine Daily Inquirer. Retrieved 2016-04-22.
Government offices
Preceded by Secretary of Budget and Management
2001–2003 		Succeeded by
Preceded by
Mario Tiaoqui
 Secretary of Energy
2001 		Succeeded by
Vincent S. Perez
Retrieved from "https://en.wikipedia.org/enwiki/w/index.php?title=Jose_Isidro_Camacho&oldid=1240916396"