Metrobank founder George Ty dies

MANILA, Philippines (UPDATED) – Metrobank founder and Group Chairman Dr George S.K. Ty has died, the company announced on Friday, November 23. 

He was 86.

“It is with deep sadness that we announce the peaceful passing of our beloved Founder and Group Chairman. He was surrounded by family and loved ones at the time,” Metrobank said in a statement.

Ty established Metrobank in 1962. After expanding Metrobank overseas,  he transformed it into a diverse business conglomerate. The Metrobank Group counts as its members 18 domestic subsidiaries, partners and affiliates in various industries and 32 foreign branches, subsidiaries and representative offices.

Memorial services for Ty will begin on Sunday, November 25, at the Heritage Park in Taguig City.

Metrobank said that in lieu of flowers, donations to the Philippine National Red Cross, CBCP Caritas Filipinas Foundation and Philippine Disaster Resilience Foundation will honor its founder's "spirit of generosity and memory."

DepEd tribute

The Department of Education (DepEd) expressed its condolences to the Ty family and cited the tycoon’s contribution to Philippine education, culture, and arts.

“DepEd will always be grateful to Dr. Ty for his lifelong commitment to the advancement of education, culture, and arts in the Philippines through various programs and initiatives spearheaded by Metrobank Foundation – one of the country’s most dynamic corporate philanthropic organizations,” DepEd said in a statement on Saturday, November 24.

“The life and works of Dr Ty reflect his genuine desire and noble goal to contribute to societal development and nation-building. His legacy will live on as every year, outstanding Filipinos will remind us that where there is service beyond excellence, there is joy, and there is a future for our learners,” it added.

DepEd cited, in particular, the Metrobank Foundation Outstanding Filipinos, the Metrobank-MTAP-DepEd Math Challenge, and the National Teachers’ Month celebration.

“As an award-giving body, Metrobank Foundation blazed the trail in giving due recognition to exemplary men and women – teachers, soldiers, and policemen. Now, there are more and more civic organizations and government agencies following the Foundation’s footsteps,” it said. – Rappler.com