Washington SyCip founded the accounting firm SGV & Company in 1946, beginning with a single desk in his brother’s law office in Binondo. Over the following decades, he transformed this modest startup into the largest accounting enterprise in the Philippines, ultimately shaping the nation's corporate audit landscape while holding numerous positions as an adviser and director.
Early Academic Advancement
Born in Manila in 1921 to Albino and Helen SyCip, he moved through his education with notable speed. He skipped three elementary grades before attending Victorino Mapa High School. By age 17, he earned a commerce degree from the University of Santo Tomas with summa cum laude honors. He passed the board examinations for Certified Public Accountants just one year later. In 1940, he enrolled at Columbia University in New York for post-graduate studies, completing the requirements for his degree, though he left before finishing his dissertation due to the onset of World War II.
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Following the imprisonment of his father by Japanese forces in the Philippines, SyCip enlisted in the United States Army in 1942 and secured American citizenship the following year. Although his high test scores initially led to him being deemed overqualified for the infantry, he received specialized training in Japanese language skills in Colorado and cryptography in Virginia. He was subsequently deployed to Calcutta, British India, where he served as a codebreaker for the remainder of the conflict.
Founding an Accounting Giant
Returning to Manila at age 24, SyCip taught at the University of Santo Tomas and other colleges. He rejected offers from British accounting firms, concluding that advancement for non-white employees was limited. In March 1946, he launched W. SyCip & Company. Through partnerships with Alfredo M. Velayo and Vicente O. José, the practice expanded into SGV & Company. By 1958, the firm overtook the established British firm Fleming & Williamson to become the largest in the country. SyCip served as chairman until his retirement in 1996.
Institutional Contributions
Beyond his firm, SyCip influenced international business education. He co-founded the Asian Institute of Management in 1968 and served as its board chairman. He held the inaugural chairmanship of the Euro-Asia Center at INSEAD in France and acted as a founding governor for the Lauder Institute at the Wharton School. His professional engagements included roles as an adviser to the board for BDO Unibank and the Philippine Long Distance Telephone Company, along with directorships at several other publicly listed organizations.
Fast facts
- Born: 1921, Manila
- Died: 2017, Pacific Ocean
- Founder: SGV & Company and Asian Institute of Management
- Education: University of Santo Tomas, Columbia Business School
- Ramon Magsaysay Award recipient: 1992
- Spouse: Anna Yu
- Children: Victoria, George, and Robert
Questions readers ask
How did Washington SyCip die?
He passed away on October 7, 2017, while aboard Philippine Airlines Flight 126 traveling from Manila toward Vancouver.
What is the status of SGV & Company today?
As of December 2016, it remained the largest accounting firm in the Philippines, auditing approximately half of the companies listed on the Philippine Stock Exchange.
Achievements
- Affiliated with University of Santo Tomas
- Educated at University of Santo Tomas and Columbia Business School
