Washington SyCip Dies

Today in Philippine History (Philatelic Edition Series 3):

October 7, 2017

Washington Z. SyCip (June 30, 1921 – October 7, 2017) died of heart attack on October 7, 2017 aboard Philippine Airlines Flight 126 which left Manila bound for Vancouver. He was scheduled to attend a meeting in New York City. 

SyCip was an accountant and the founder of the accounting firm SGV & Company and the Asian Institute of Management. 

He was born in Manila on June 30, 1921 to Albino SyCip, co-founder of Chinabank, and Helen Bau. His early childhood was spent in Shanghai, China and came back when he was six. He studied at Padre Burgos Elementary School then to Victorino Mapa High School. 

SyCip graduated his commerce course, summa cum laude at the University of Santo Tomas. After passing the board examinations for Certified Public Accountants, he left for the United States to complete his post-graduate degree at Columbia University in New York. 

During the war, he joined the US Army and was assigned in intelligence as a cryptographer who deciphered Japanese codes. He was given an American citizenship by the US government. When the war ended, he returned to the Philippines and partnered with Alfredo M. Velayo and Vicente O. Jose to form SyCip, Velayo, Jose & Company. The firm is now known as SGV & Company (SGV). 

SyCip married his childhood friend Anna Yu in 1948 and they have three children – Vicky, George and Robert. 

He was mentor to the Philippine's taipans, tycoons, top executives, technocrats, government officials and diplomats. Considered as the wisest of all, he was chairman, advisor to the board or independent director of many companies here and abroad, and guiding the board members in the right path. 

Washington SyCip, the leader and grand old man of the Philippine business community, and other business leaders backed Philippine President Rodrigo Duterte on his 10-point socio-economic agenda after he won the presidency. At the Asian Institute of Management (AIM) for Change business conference in Makati, Metro Manila, on June 22, 2016, SyCip spoke of Duterte replicating his past successes. Malacañang under Duterte offered its condolences to the family and friends of SyCip and calling him a "respected voice in corporate governance and staunch believer in Filipino talent."

(Design, concept, stamps and research: Richard Allan B. Uy) All rights reserved

Photo credit: Philippine Star