Renowned Filipino CPA Washington SyCip dies at 96

Filipino-Chinese tycoon and philanthropist Washington SyCip died on Saturday evening, according to the family’s closest friends. He was 96.

Businessman Manuel V Pangilinan and former Finance Secretary Cesar V Purisima confirmed this information.

According to Purisima, SyCip passed away en route to New York.

His name has become synonymous with SGV — SyCip, Gorres, Velayo & Co. — the foremost name in the Philippines when it comes to accounting, tax transactions, auditing and a host of multidisciplinary services. Seeing great opportunities in the country’s postwar reconstruction, he set up his own accounting firm, W. SyCip & Co., in Binondo. As the business grew, SyCip with his longtime friend Alfredo M. Velayo, renamed the firm SGV. SyCip co-founded local accounting firm SGV&Co in 1946. He also founded international business school Asian Institute of Management.

He passed the examination for Certified Public Accountants at age 18, but was too young to receive a professional license to practice. He decided instead to take his PhD in the United States at Columbia University.

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