Washington Z. SyCip, PLH BOLk RNO1kl (; 30 June 1921 – 7 October 2017) was a

Chinese-Filipino Chinese Filipinos; tl, Tsinoy, / Tsinong Pilipino, ; Philippine Hokkien , Mandarin (also known as Filipino Chinese in the Philippines) are Filipinos of Chinese descent, mostly of southern Fujianese ancestry, where the majority are bor ...

American American(s) may refer to: * American, something of, from, or related to the United States of America, commonly known as the "United States" or "America" ** Americans, citizens and nationals of the United States of America ** American ancestry, pe ...

accountant. He was the founder of the accounting firm EY SGV & Company and the

Asian Institute of Management The Asian Institute of Management (AIM) is an international management school and research institution. It is one of the few business schools in Asia to be internationally accredited with the Association to Advance Collegiate Schools of Busines ...

Early life and education

SyCip was born in

Manila Manila ( , ; fil, Maynila, ), officially the City of Manila ( fil, Lungsod ng Maynila, ), is the capital of the Philippines, and its second-most populous city. It is highly urbanized and, as of 2019, was the world's most densely populate ...

on 30 June 1921 to Albino and Helen SyCip. His father, Albino SyCip, co-founded

Chinabank China Banking Corporation (; ), commonly known as China Bank, is a Filipino bank established in 1920. It was the first privately owned local commercial bank in the Philippines initially catering to the banking needs of Chinese Filipino businesspe ...

in 1920. His name was derived from the fact that his father was in

Washington, D.C. ) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle, Jefferson Memorial, White House, Adams Morgan, ...

at the time of his birth. He spent his early years living in

Shanghai Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flowin ...

before attending Padre Burgos Elementary School and

Victorino Mapa High School Victorino Mapa High School ( fil, Mataas na Paaralang Victorino Mapa) (formerly Manila East High School), situated in San Miguel, Manila, is one of the oldest public high schools in the city. It has produced a list of successful graduates in va ...

. He skipped three grade levels in elementary school. SyCip earned a commerce degree at the

University of Santo Tomas The University of Santo Tomas (also known as UST and officially as the Pontifical and Royal University of Santo Tomas, Manila) is a private, Catholic research university in Manila, Philippines. Founded on April 28, 1611, by Spanish friar Migue ...

(UST) with '' summa cum laude'' honors at age 17. He taught in UST while pursuing a master's degree. He passed the board examinations for Certified Public Accountants at age 18. In 1940, he went to the United States to attend the

Columbia University in New York Columbia University (also known as Columbia, and officially as Columbia University in the City of New York) is a private research university in New York City. Established in 1754 as King's College on the grounds of Trinity Church in Manhattan ...

to complete a post-graduate degree. He completed all academic requirements for the degree except for his dissertation due to the outbreak of

World War II World War II or the Second World War, often abbreviated as WWII or WW2, was a world war that lasted from 1939 to 1945. It involved the vast majority of the world's countries—including all of the great powers—forming two opposing ...

World War II

After learning of his father's imprisonment in the Philippines by Japanese invading forces, he reevaluated his plans of pursuing a doctorate degree. In 1942, he enlisted himself in the

US Army The United States Army (USA) is the land service branch of the United States Armed Forces. It is one of the eight U.S. uniformed services, and is designated as the Army of the United States in the U.S. Constitution.Article II, section 2, cla ...

and became a naturalized US citizen in 1943. He joined Camp Cooke but was told to be "overqualified" for the infantry for having the highest IQ level in his regiment. He studied

Japanese Japanese may refer to: * Something from or related to Japan, an island country in East Asia * Japanese language, spoken mainly in Japan * Japanese people, the ethnic group that identifies with Japan through ancestry or culture ** Japanese diaspor ...

in a language school in

Colorado Colorado (, other variants) is a state in the Mountain states, Mountain West subregion of the Western United States. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the wes ...

and

cryptography Cryptography, or cryptology (from grc, , translit=kryptós "hidden, secret"; and ''graphein'', "to write", or ''-logia'', "study", respectively), is the practice and study of techniques for secure communication in the presence of adver ...

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

. He was then deployed to

Calcutta Kolkata (, or , ; also known as Calcutta , List of renamed places in India#West Bengal, the official name until 2001) is the Capital city, capital of the Indian States and union territories of India, state of West Bengal, on the eastern ba ...

British India The provinces of India, earlier presidencies of British India and still earlier, presidency towns, were the administrative divisions of British governance on the Indian subcontinent. Collectively, they have been called British India. In one ...

as a codebreaker.

Career

After

, SyCip was discharged from the

and returned to

at age 24. He initially taught accounting at the

and two other colleges. He decided against joining one of the British accounting firms returning to the country following the war reasoning that only a

white person White is a racialized classification of people and a skin color specifier, generally used for people of European origin, although the definition can vary depending on context, nationality, and point of view. Description of populations as ...

could become a business partner in such firms. In March 1946, he opened W. SyCip & Company with a desk in his brother Alexander’s law office in Binondo. He eventually partnered with Alfredo M. Velayo and Vicente O. José to form SyCip, Velayo, José & Company. The firm would evolve into what is now known as SGV & Company (SGV). SyCip earned a Master of Science in Commerce from Columbia Business School. By 1958, SGV was already the biggest accounting firm in the Philippines and already overtook Fleming & Williamson the then largest British firm operating in the country. He retired as chairman of SGV in 1996 but remained involved with the firm until his death. In 1968, he co-founded the

in the Philippines and served as chairman of its board of trustees and board of governors. He was the first chairman of the Euro-Asia Center of

INSEAD INSEAD, a contraction of "Institut Européen d'Administration des Affaires" () is a non-profit business school that maintains campuses in Europe (Fontainebleau, France), Asia (Singapore), the Middle East (Abu Dhabi, UAE), and North America (San ...

, a leading graduate business school, in Fontainebleau, France. SyCip was a founding governor of the

Wharton School The Wharton School of the University of Pennsylvania ( ; also known as Wharton Business School, the Wharton School, Penn Wharton, and Wharton) is the business school of the University of Pennsylvania, a private Ivy League research university in P ...

Lauder Institute The Joseph H. Lauder Institute of Management & International Studies (The Lauder Institute) offers a joint degree program at the University of Pennsylvania, combining an MA in international studies from the School of Arts & Sciences with an MBA ...

Death

SyCip died on October 7, 2017 aboard

Philippine Airlines Philippine Airlines (PAL), a trade name of PAL Holdings, Inc. (Philippine Stock Exchange, PSEPAL (Philippine Air Lines until 1970), is the flag carrier airline of the Philippines. Headquartered at the Philippine National Bank, PNB Financial Cen ...

Flight 126, which took off from

bound for

Vancouver Vancouver ( ) is a major city in western Canada, located in the Lower Mainland region of British Columbia. As the List of cities in British Columbia, most populous city in the province, the 2021 Canadian census recorded 662,248 people in the ...

with continuing service to

New York City New York, often called New York City or NYC, is the most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the most densely populated major city in the Un ...

. He was with his son, George SyCip, and an assistant, Roberto Cabilles. He died before reaching Vancouver.

Legacy

Flowers for Washington SyCip Washington SyCip Park

As of December 2016, SGV & Company (SGV) continues to be the largest accounting firm in the Philippines, auditing about half of 304 publicly listed companies in the

Philippine Stock Exchange The Philippine Stock Exchange, Inc. ( fil, Pamilihang Sapi ng Pilipinas; ) is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Includin ...

. SGV has stiff competition from rival firms, Punongbayan & Araullo, KPMG RG Manabat & Company, and Reyes Tacandong & Company, which were established by former business partners of SGV. The

Washington SyCip Park Washington SyCip Park is a privately owned public park near Greenbelt mall in Legaspi Village, Makati, Metro Manila, Philippines. The park opened in 2006, and was named after Filipino accountant and banker Washington SyCip. In addition to many ...

in Makati,

Metro Manila Metropolitan Manila (often shortened as Metro Manila; fil, Kalakhang Maynila), officially the National Capital Region (NCR; fil, link=no, Pambansang Punong Rehiyon), is the seat of government and one of three defined metropolitan areas in ...

was named in his honour on the occasion of his 85th birthday. The

Ayala Foundation Ayala Corporation (Spanish: ''Corporación Ayala'', formerly ''Ayala y Compañía'' (Ayala & Company)) is the publicly listed holding company for the diversified interests of the Ayala Group. Founded in the Philippines by Domingo Róxas and A ...

and the

Jollibee Jollibee is a Filipino chain of fast food restaurants owned by Jollibee Foods Corporation (JFC). As of December 2021, JFC had a total of about 1,500 Jollibee outlets worldwide, with restaurants in Southeast Asia, the Middle East, East Asia ...

Group Foundation launched fundraising for the "INSEAD Washington SyCip Scholarship" for Filipino MBA students in honour of SyCip.

Positions

Positions held by SyCip prior to his death: * BDO Unibank, Inc, (

PSE PSE may refer to: Companies and organizations Stock exchanges *Pacific Stock Exchange, stock exchange in USA * Pakistan Stock Exchange, stock exchange of Pakistan * Palestine Securities Exchange, stock exchange in Palestine * Philippine Stock ...

: BDO), Adviser to the Board * Belle Corporation (

: BEL), Independent Director * Cityland Development Corporation (

: *

First Philippine Holdings Corporation First Philippine Holdings Corporation (FPH) is a management and investment company whose major business is power generation and distribution, with strategic initiatives in manufacturing and property development. FPH is a member of the Lopez Grou ...

(

: FPH), Independent Director * Highlands Prime, Inc., Independent Director *

Lopez Holdings Corporation Lopez Holdings Corporation (formerly Benpres Holdings Corporation until July 5, 2010) is a Filipino conglomerate founded by the brothers Eugenio Lopez, Sr. and Fernando Lopez, Sr. It has substantial holdings in the public service and utilities ...

(

: LPZ), Independent Director *

MacroAsia Corporation MacroAsia Corporation is a leading provider of aviation-related support services in the Philippines. Its major business segments derive income from aircraft maintenance, repair and overhaul (MRO), food services (airline and institutional catering) ...

(

: MAC), Co-Chairman *

Metro Pacific Investments Corporation Metro Pacific Investments Corporation (MPIC) is a Philippine-based unit investment holding company of First Pacific Company Limited through Metro Pacific Holdings, Inc. MPIC through its subsidiaries, provides water, sanitation, and sewerage se ...

(

: MPI), Independent Director * Metropolitan Bank & Trust Company (

: MBT), Adviser to the Board *

Philippine Long Distance Telephone Company The Philippines (; fil, Pilipinas, links=no), officially the Republic of the Philippines ( fil, Republika ng Pilipinas, links=no), * bik, Republika kan Filipinas * ceb, Republika sa Pilipinas * cbk, República de Filipinas * hil, Republ ...

(

: TEL), Adviser to the Board *

Philippine National Bank The Philippine National Bank (PNB, Filipino/ tl, Bangko Nasyonal ng Pilipinas, lit=; es, Banco Nacional Filipino; Hokkien ) is one of the largest banks in the Philippines. It was established by the Philippine government on July 22, 1916, duri ...

(

: PNB), Director

Awards

*Doctor of Philosophy, '' honoris causa'' degree from the De La Salle University (1977) *Doctor of Accounting Education, '' honoris causa'' degree from the University of Santo Tomas (1984) *Officer First Class of the

Order of the Polar Star The Royal Order of the Polar Star ( Swedish: ''Kungliga Nordstjärneorden'') is a Swedish order of chivalry created by King Frederick I on 23 February 1748, together with the Order of the Sword and the Order of the Seraphim. The Order of t ...

(1987) *

Philippine Legion of Honor The Philippine Legion of Honor ( fil, Lehiyong Pandangal ng Pilipinas; es, Legion de Honor Filipino) was established by President Manuel Roxas, through Philippine Army Circular No. 60 dated July 3, 1947. The Philippine Legion of Honor was patterne ...

, Degree of Commander (1991) *Doctor of Laws, '' honoris causa'' degree from the

University of the Philippines Diliman , image = University of The Philippines seal.svg , image_size = 175px , caption = Official Logo of UP Diliman , motto = Honor and Excellence , established = February 12, 194 ...

(2001) *Doctor of Science (Management), '' honoris causa'',

Holy Angel University Holy Angel University is a private Catholic research university in Angeles City, Philippines. Founded in June 1933 by Don Juan Nepomuceno and Fr. Pedro Paulo Santos, who was later named as the Archbishop of Cáceres, is considered the first ...

, 2010 * Order of Lakandula, Rank of Grand Cross (Bayani) (2011) *Ramon V. del Rosario Award for Nation Building (2012) *Doctor of Laws, '' honoris causa'' degree from the

Ateneo de Manila University , mottoeng = Light in the Lord , type = Private, research, non-profit, coeducational basic and higher education institution , established = December 10, 1859 , religious_affiliation = Roman Catholic ( Jesuits) , academic ...

(2012) * Order of the Rising Sun, Second Class, Gold and Silver Star, Japan (2017)

Personal life

Sycip was married to Anna Yu with whom he had three children; Victoria, George, and Robert.

External links

Biography of Washington SyCip

References

{{DEFAULTSORT:Sycip, Washington 1921 births 2017 deaths American people of Chinese descent Filipino emigrants to the United States Columbia Business School alumni Filipino people of Chinese descent Members of Committee of 100 People from Makati University of Santo Tomas alumni University of Santo Tomas faculty American accountants Chinese accountants Filipino accountants Asian Institute of Management people PLDT people American company founders Filipino company founders United States Army personnel of World War II Filipino chairpersons of corporations Grand Crosses of the Order of Lakandula