Metropolitan Bank and Trust Company began its operations in 1963, eventually growing into the second largest financial institution in the Philippines by assets and capital. Its founder, George Siao Kian Ty, guided the development of this banking infrastructure while expanding his commercial reach into real estate, automotive manufacturing, insurance, and power generation through his later holding company.
Early Development and Education
Born in Hong Kong in 1932 to parents Norberto Ty and Victoria Ty-Tan, George Ty moved to the Philippines to pursue his studies. He enrolled at the University of Santo Tomas in 1955 to earn a bachelor's degree in commerce. He interrupted his academic path before graduation to support his father, Norberto, who had established the Wellington Flour Mills. Decades later, on August 7, 2014, the University of Santo Tomas awarded him an honorary doctorate in humanities to recognize his significant contributions to the national banking sector.
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In 1962, Ty launched the Metropolitan Bank and Trust Company, partnering with Emilio Abello, Pio Pedrosa, and Placido Mapa Sr. The institution expanded rapidly, opening its first international location in Taipei, Taiwan, by 1970. Under his guidance, the bank integrated several key subsidiaries, including Philippine Savings Bank, SMBC Metro Investment Corporation, and Philippine AXA Life Insurance Corporation. His influence also extended to the automotive industry through the Toyota Motor Philippines Corporation.
Diversification and Holdings
Seeking to consolidate his various interests, Ty established GT Capital Holdings Inc. in 2007. This parent entity managed a diverse portfolio that included stakes in the Bank of the Philippine Islands and Federal Land, Inc. Beyond these financial assets, he oversaw the development of the G.T. International Tower, a prominent skyscraper located in the Makati business district. His business strategy focused on maintaining control across multiple sectors, ranging from real estate and power to automotive dealerships.
Public Recognition and Final Years
The Philippine government acknowledged his impact on the economy on June 4, 2010, by bestowing upon him the Order of Lakandula, Grand Cross. Ty continued his professional activities until his death on November 23, 2018, in Manila, at the age of 86. His passing resulted from pancreatic cancer.
Fast facts
- Born: 1932, Hong Kong
- Died: 23 November 2018, Manila
- Citizenship: Philippines
- Alma mater: University of Santo Tomas
- Primary business: Metropolitan Bank and Trust Company
- Holding company: GT Capital Holdings Inc.
- Notable honor: Order of Lakandula, Grand Cross
Questions readers ask
Which major bank did George Ty establish?
He founded the Metropolitan Bank and Trust Company in 1962.
What was the purpose of GT Capital Holdings Inc.?
Founded in 2007, it functioned as a holding company for his investments in banking, insurance, power, real estate, and auto dealerships.
Achievements
- Educated at University of Santo Tomas
