Eduardo Romualdez

Eduardo Zialcita Romualdez (November 22, 1909 – July 19, 2001) was a Filipino banker, financial administrator and diplomat who served as the Ambassador of the Philippines to the United States from 1971 to 1982. He also was Secretary of Finance, serving from 1966 to 1970 under the Marcos administration.

Early life and education Romualdez was born on November 22, 1909, in Tolosa, Leyte to Miguel Lopez Romualdez, assemblyman for Leyte and Mayor of Manila during World War II, and Brigida Zialcita. His siblings includes former House Speaker Daniel Romualdez. He is the nephew of Supreme Court Associate Justice Norberto Romualdez and is the uncle of former Health Secretary Alberto Romualdez, footballer Johnny Romualdez and current Ambassador to the United States Babe Romualdez. He is also the first cousin of former First Lady Imelda Marcos and Ambassador Benjamin Romualdez.

Romualdez went to Ateneo de Manila University for highschool, graduating in 1925. He studied at the University of the Philippines where he earned his degree in philosophy. He held a master's degree from the University of Santo Tomas and a doctorate from Georgetown University.

Career Romualdez's career in government began in 1934 when he was a bank manager at the Bureau of Banking (predecessor of the current Bangko Sentral ng Pilipinas) under the Department of Finance, serving until 1947. In 1954, he was appointed by President Ramon Magsaysay as chairman and CEO of the Rehabilitation Finance Corporation (now reorganized as the Development Bank of the Philippines). Due to his position as RFC chairman, he was an ex officio member of the Monetary Board of the Central Bank of the Philippines. He also was the government representative and chairman of the board of Philippine Airlines beginning in January 1954 until 1962. He also briefly served as an ex officio member of the Cabinet of the Philippines owing to him becoming the presiding officer of the National Economic Council in 1956. In 1971, he was appointed Ambassador of the Philippines to the United States. He presented his credentials to United States President Richard Nixon on October 13, 1971.

In November 1974, Romualdez was held hostage for over 10 hours at the Philippine Embassy in Washington, D.C. According to The New York Times, it was believed to be the first time a foreign ambassador was held hostage in the United States. Romualdez was eventually released after assurances were made by President Marcos that the perpetrator's son in the Philippines would be given an exit visa and be allowed to leave the country.