Metrobank Chair George Ty Passes Away

Metropolitan Bank and Trust Company (Metrobank) founder and group Chairman Dr. George S.K. Ty died Friday at the age of 86.

“It is with deep sadness that we announce the peaceful passing of our beloved Founder and Group Chairman Dr. George S.K. Ty. He was surrounded by family and loved ones at the time,” the bank’s management said in a statement issued Friday night.

Ty was reported to have been battling pancreatic cancer for months.

He founded Metrobank in 1962 and expanded this to a conglomerate that now includes joint ventures with Toyota Motor Corporation, AXA insurance, and Orix Metro Leasing.

To date, the Metrobank Group has 18 domestic subsidiaries, partners and affiliates in several industries and 32 foreign branches, subsidiaries and representative offices.

The statement said, “Dr. 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 Sunday, November 25, 2018 at the Heritage Park, Taguig City, the bank management said.

“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,” it was added. (PNA)