George Ty dies ‘surrounded by loved ones and family’

Taipan and philanthropist George S.K. Ty – the founder of the Metrobank business empire – was “surrounded by family and loved ones” when he passed away today, according to a statement released by the group.

Ty was 86 years old when he succumbed to a lingering illness.

In the statement, the group said Ty was recognized “not only for his exemplary achievements in business but also for his generous philanthropy through the Metrobank Foundation.”

“His commitment to contribute to the Philippines’ economic prosperity as well as to nation-building will continue to be lived by the group,” it said.

The group quoted Ty saying in one of his last public statements: “It has been my life’s greatest honor to work alongside you towards achieving success for generation after generation. Thank you very much from the bottom of my heart.”

Ty established Metrobank in 1962, he grew the bank and expanded its reach internationally. He went beyond banking and transformed the bank to a diverse business conglomerate with successful joint ventures like that of the Toyota Motor Corp., AXA insurance and Orix Metro Leasing, among others.

The Metrobank Group counts as its members 18 domestic subsidiaries, partners and affiliates in various industries and 32 foreign branches, subsidiaries and representative offices.

Ty has been de facto chairman emeritus as early as 2008 as his sons Arthur and Alfred headed the many companies in the group in his stead.

Memorial services will start on Nov. 25, 2018 at the Heritage Park, Taguig City.

“In lieu of flowers, donations to the Philippine National Red Cross, CBCP Caritas Filipinas Foundation and Philippine Disaster Resilience Foundation will honor his spirit of generosity and memory,” the group said.