Washington SyCip: His 4 Greatest Contributions to the Philippines

    Iconic Philippine businessman and philanthropist Washington SyCip has passed away at the age of 96, reports ABS-CBN News. The tycoon remained active in the businesses he founded including SGV & Company and the Asian Institute of Management (AIM). He passed away quietly on a plane en route to New York City, as confirmed by a statement on the SGV & Company Facebook page. To honor the life of the established and endeared figure, we look at 4 major contributions Washington Sycip has made to the country…

    RVR 2012 awardee Washington SyCip.

    1. In 1946. SyCip established his company SGV & Co as W. SyCip & Co. The firm would change its name in 1947 to SyCip Velayo Jose & Co. and then to the name we know it as today in 1953. According to its website, SGV & Co. is the Philippines’ “largest multidisciplinary professional services firm with eight offices across the country. The Firm employs nearly 6,000 professionals from various disciplines. We provide integrated solutions that draw on diverse and deep competencies in assurance, tax, transaction and advisory services. We uphold the highest standards of quality. In fact, the assurance service line of SGV & Co. has been ISO 9001-certified since 1996.” Although retiring the company at 1996, SyCip remained active on the board. He also launched the SGV Foundation, which has the mission to: “To spearhead social, moral and economic programs that will inculcate the values of education, discipline, integrity and excellence in Filipinos” They have provided school supplies like laptops to the less fortunate, raised funds for typhoon victims, and has been named one of the Metrobank Foundation’s 2014 Peace Awardees.

    2. Also known as the “Grand Old Man of Philippine Business”, SyCip is also the founder of the Asian Institute of Management (AIM). At the end of World War II, Sycip and other businessmen wanted to create a graduate business program that would train young entrepreneurs of the Philippines, as way to help re-build the country. The idea eventually formed into the AIM, an international business school. Decades later, the establishment remains to be a training ground for young leaders in Asia. According to their website, “Since 1968, more than 4,000 graduates from 27 countries have used their AIM MBA as their passport to exciting, rewarding, and fulfilling careers.” SyCip continued to advocate education for all. It would become one of his missions in life.

    3. The SyCip-Kazarian Foundation was another way Sycip supported education in the Philippines. Launching in 2012, Synergeia announced that the fund would financially facilitate “local School Boards to implement programs to reduce dropouts and improve learning performance of students in elementary education.” School Boards could access the fund by writing a simple proposal and sending it to Synergeia, the non-profit organization that aims to help schools and education in the country (it is headed by former Undersecretary of Finance Dr. Miwilda M. Guevara). Under the foundation is the No Dropout Fund, which supports parents by lending them money to ensure their children remain in school. Sycip and partner New York-based Paul Kazarian released $100,000 from their $2 million join account to make the program functional.

    4. Over the years, Washington Sycip has gained a reputation as a respected businessman around the world. He served on the board of numerous companies in the Philippines, contributing greatly to the economic scape of the country. Included are positions such as being the Advisor to the board for BDO Unibank Inc., Independent Director at Belle Corporation, Chairman of the Board at Cityland Development Corporation, Independent Director at First Philippine Holdings Corporation, Independent Director at Highlands Prime, Inc. Independent Director at Lopez Holdings Corporation. Chairman at MacroAsia Corporation. Adviser to the Board at Metropolitan Bank & Trust Company, Adviser to the Board at Philippine Long Distance Telephone Company, Director at the Philippine National Bank, and Director and Philequity Management Inc.

    Featured image courtesy of Forbes.com 

Leave a reply

Your email address will not be published.