Money

Metrobank Founder George Ty, 86, Has Passed Away

He was a savvy entrepreneur and a generous philanthropist.
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George Ty, 86, Metrobank founder and the Philippines' ninth richest man, passed away after months of battling pancreatic cancer.

The tycoon, who chairs GT Capital Holdings, has interests in real estate, finance, and power industries. He founded Metrobank in 1962 when he was 29 years old. He also owns the Philippine franchises for Toyota, Marco Polo, and Grand Hyatt. His company also has stakes in Federaland Inc, Metro Pacific Investments Corporation, Maynilad, AXA Insurance, among others. 

His business acumen was coupled with a philanthropic spirit. He has a school, Tytana College, and the Metrobank Foundation is famous for its work in health care, education, arts, and architecture.

His achievements and contributions have earned him several recognitions, including a Lifetime Achievement Award by the Asian Banking Awards (2000), Outstanding Manilan Award (2001), Dr. Jose Rizal Awards for Excellence (2002), Management Man of the Year (2006), and Presidential Order of Lakandula (2010). In 2011, he was awarded the Philippines-Japan Society Medal of Merit. 

Japanese Ambassador to the Philippines Koji Haneda then noted how Ty was “a strong leader, a visionary, and a man of integrity.”

Ty also holds honorary degrees from the University of the Philippines Los Baños, the Centro Escolar University, the Philippine Normal University. His alma mater the University of Santo Tomas conferred a Doctor of Humanities honoris causa to him. 

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