HIS FATHER and relatives are engineers. But Omar Cruz was not destined to be one. But his path did take him to engineer the country?s debt program, help manage the Philippine economy and design investment products.

Cruz says that, at the time, he was torn between taking up a business management course or pursuing engineering, just like his parents wanted.

He ended up with a degree in Industrial Management Engineering from De La Salle University.

?I could not take my mind out of management, and was not [content] being just an engineer,? says Cruz.

After graduating in 1977, Cruz had two job offers ? the first, as sales cadet engineer at Usiphil, a sales company for heavy equipment, and the second, as industrial engineer at Delta Motor Corp., then the manufacturer of Toyota vehicles in the Philippines.

Cruz chose the latter.

?Since I was not geared for sales or selling, I decided to accept Delta Motor?s offer. The pay they offered was also higher. It was P700 a month,? Cruz recalls.

After less than a year of learning the ropes at a car factory and countless industrial engineering analyses and studies, Cruz resigned from his first job. He moved to the academe ? as a research fellow at the Centre for Research and Communication (CRC), predecessor of the University of Asia and the Pacific (UA&P).

While working, Cruz pursued his Master of Science in Industrial Economics degree, also at CRC.

His first step into economic research and analysis was no walk in the park. Cruz recalls a near-traumatic presentation to prominent businessmen.

?I had to present my research work on Philippine economics [monetary and fiscal policies, and industrial production] to a bunch of seasoned and experienced businessmen [called the Friends of CRC]. They were not that friendly as they tore apart and criticized my amateurish research presentation,? he recalls. ?It was never the same after that incident. Boy, did I grow and mature so suddenly!?

Cruz spent 12 years working at CRC, eventually becoming head and chief of Economic Research and Forecasting. It was his stint at CRC, which Cruz calls his ?next first job,? that led him towards a career in investment banking and finance.

Manufacturing?s loss was clearly the capital market?s gain.

?My first job is way off what I am doing now, save for the part about analyzing systems,? says Cruz. ?But the move to CRC, which was not too long after the first, was the sound base of my current job as banker, treasurer and finance man. I learned real market economics from my next first job. My business and financial management skills obtained over time would not have been enriched without that strong market economics background and work.?

From CRC, Cruz spent another 12 years at Citibank, becoming vice president in Treasury, Risk Management, Securities Services, Corporate Banking and Investment Banking, as well as Private Banking. He also served as president of Citicorp Securities International.

Cruz later returned to UA&P as chief financial officer, while concurrently working as director for ABN-AMRO Bank. His credentials, market savvy and friendliness also led to other posts, such as governor of the Philippine Stock Exchange and president of the World Association of Debt Management.

In 2005, Cruz was handpicked to become national treasurer of the Philippines ? an appointment that was seen as one of the turning points for the Philippines, which was then on a precarious fiscal footing.

When he assumed the post, almost all the odds were stacked against him ? Philippine credit ratings were downgraded, fiscal reforms were slow, and the country?s funding strategy was weak.

But armed with more than two decades of experience in finance and economics, Cruz brought order to the country?s fiscal house, resulting in record-low pricing for Philippine sovereign debt, healthy investor appetite for Philippine bond offerings and a newfound discipline towards the country?s debt management strategy.

As national treasurer, Cruz received 25 international awards from prominent institutions such as Euromoney, International Financial Review and Asset Magazine. He was also cited, twice in a row, as Best Funding Official in the Asia Pacific Region.

After almost three years as National Treasurer, Cruz resigned, later moving to Philam as Executive Vice President and Chief Investment Officer.

Cruz is one of the most respected investment and finance experts not only in the Philippines, but across the region. He credits his grounding in research and analysis for his success.

?The real take away from my first job at CRC was the economic and market discipline it implanted on me where it found its way in the treasury dealing room, in investment banking, in managing corporate finances, and most especially, in running the finances of the entire republic,? Cruz shares.

For a tough career in banking, finance and the capital markets, where only the brave and the bold survive and common sense is just as vital as a good reputation, Cruz advises future market mavens to have a strong background in market economics.

?I am not referring to theoretical knowledge ? get your sound principles in order and get a lot of market practice and research. That is what good bankers, treasurers, finance, and capital market guys worth their salt are made up of,? he says.