Ex-finance chief Vicente Jayme dies

MANILA, Philippines (UPDATED as of April 5) – Vicente “Ting” R. Jayme, who served as finance secretary during the administration of the late President Corazon Aquino, has passed away after suffering from a heart condition on Thursday, April 4. He was over 80.

In a statement on Thursday, April 4, Cesar Purisima, the current finance secretary under the term of Aquino’s son Benigno III, sent his condolences to the Jayme family.

Jayme was finance secretary from 1987 to 1989, and had co-founded the National Citizens’ Movement for Free Elections (NAMFREL) with Jose S. Concepcion Jr.

“We want to let Ting Jayme’s family and friends know that the DOF (Department of Finance) family that he helped build condoles with them as well,” Purisima said.

Purisima described Jayme as a “brilliant” Finance chief who was at the helm when the Philippines was facing financial difficulties in the 80’s.

“Current and future civil servants would do well to remember the prudence of his policy even in these times of relative plenty,” Purisima added.

In a statement on Friday, April 5, Deputy Presidential Spokesperson Abigail Valte said the Aquino administration “sends its condolences to his family and friends, and we join them in mourning.”

Jayme, she said, “serves as a model of integrity and financial prudence that all our public servants and citizens can seek to emulate.”

Different hats

NAMFREL Chairperson Cora de la Paz-Bernardo told Rappler she learned about Jayme’s death around noon.

“The moment I heard he died I was saddened. He was one of those people who I respect because he love this country very much,” she said in a phone interview.

“He was a very important figure in the country’s history. He is very patriotic and much respected in the financial community,” she added.

Jayme wore many hats.

Aside from his role as finance chief, he was also:

• Former Secretary of Public Works and Highways (Corazon Aquino Cabinet) 
• Presidential Coordinating Assistant for Agro-Industrial Economic and Financial Affairs (Aquino Cabinet)

These were his roles in civic organizations:

• Honorary co-chair of the Bishops-Businessmen’s Conference for Human Development
• Director of the Spirit of EDSA Foundation
• Chairman emeritus of Peasant Fund Inc.
• Founding chair of the Small Enterprises Research and Development Foundation of the Philippines
• Chair of the Workers Fund Inc.
• Adviser of the Institute of Corporate Directors 
• National vice-chair of the National Citizens’ Movement for Free Elections (Namfrel)
• Trustee and chairman of the Philippine Business for Social Progress (PBSP)
• Trustee and chairman of the Ramon Magsaysay Awards Foundation

Financial institutions:

• President of the Private Development Corporation of the Philippines
• President of the Philippine National Bank
• Member of the Central Bank Monetary Board
• Chairman of the Land Bank of the Philippines
• Executive director of the Asian Development Bank
• Governor of the Philippine Stock Exchange
• Founding chair of the Association of Development Finance Institutions in Asia and the Pacific
• Founding chair of the World Federation of Development Finance Institutions with membership in South America, Africa, Middle East, Asia and the Pacific, North America, and Europe

Business organizations:

• President of the Philippine Chamber of Industries 
• President of the Management Association of the Philippines 
• President of the Philippine Economic Society

– Rappler.com