Washington SyCip 薛華盛 | |
|---|---|
 SyCip atClub Filipino inSan Juan in 2008 | |
| Born | (1921-06-30)30 June 1921 |
| Died | 7 October 2017(2017-10-07) (aged 96) |
| Alma mater | University of Santo Tomas Columbia University |
| Occupation | Accountant |
| Known for | Founder of theSGV Group andAsian Institute of Management |
| Spouse | Anna Yu |
| Children | 3 |
| Parent(s) | Albino SyCip Helen Bau SyCip |
| Military career | |
| Allegiance |  United States |
| Service |  United States Army |
| Years of service | 1942-1945 |
| Battles / wars | Burma Campaign (World War II) |
| Website | www |
Washington Z. SyCip,[1]PLHBOLkRNO1kl (/ˈsiːsɪp/;Chinese:薛華成[2] /薛華盛[3];Pe̍h-ōe-jī:Sih Hôa-sêng;pinyin:Xuē Huáchéng; 30 June 1921 – 7 October 2017) was aChinese-Filipino-American accountant. He was the founder of the accounting firmEYSGV & Company and theAsian Institute of Management.
SyCip was born inManila on 30 June 1921 to Albino and Helen SyCip.[1] His father,Albino SyCip, co-foundedChinabank in 1920. His name was derived from the fact that his father was inWashington, D.C., at the time of his birth. He spent his early years living inShanghai[4] before attending Padre Burgos Elementary School[5] andVictorino Mapa High School.[4] He skipped three grade levels inelementary school.[5]
SyCip earned a commerce degree at theUniversity of Santo Tomas (UST) withsumma 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.[4] In 1940, he went to the United States to attend theColumbia University in New York to complete a post-graduate degree. He completed all academic requirements for the degree except for his dissertation due to the outbreak ofWorld War II.[6]
After learning of his father's imprisonment in the Philippines byJapanese invading forces, he reevaluated his plans of pursuing a doctorate degree. In 1942, he enlisted himself in theUS Army[7] and becamea naturalized US citizen in 1943.[5] He joinedCamp Cooke but was told to be "overqualified" for the infantry for having the highestIQ level in his regiment. He studiedJapanese in a language school inColorado andcryptography inVirginia. He was then deployed toCalcutta,British India as acodebreaker.[7]
AfterWorld War II, SyCip was discharged from theUS Army and returned toManila at age 24. He initially taught accounting at theUniversity of Santo Tomas and two other colleges. He decided against joining one of the British accounting firms returning to the country following the war reasoning that only awhite person could become a business partner in such firms.[5]
In March 1946, he opened W. SyCip & Company with a desk in his brother Alexander’s law office in Binondo.[8] He eventually partnered withAlfredo M. Velayo andVicente 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 fromColumbia Business School.[9]
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[5] until his death.
In 1968, he co-founded theAsian Institute of Management 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 ofINSEAD, a leading graduate business school, inFontainebleau, France.[10]
SyCip was a founding governor of theWharton School'sLauder Institute.[11]
SyCip died on October 7, 2017, aboardPhilippine Airlines Flight 126, which took off fromManila bound forVancouver withcontinuing service toNew York City. He was with his son, George SyCip, and an assistant, Roberto Cabilles.[4] He died before reaching Vancouver.[12]
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 thePhilippine Stock Exchange. 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.[13]
TheWashington SyCip Park in Makati,Metro Manila was named in his honour on the occasion of his 85th birthday.[14]
TheAyala Foundation and theJollibee Group Foundation launched fundraising for the "INSEAD Washington SyCip Scholarship" for Filipino MBA students in honour of SyCip.[15][16]
Positions held by SyCip prior to his death:
Sycip was married to Anna Yu with whom he had three children; Victoria, George, and Robert.[35]
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