Washington Sycip passes away at 96

Filipino accountant Washington Sycip, founder of the Asian Institute of Management and accounting firm SGV & Company, passed away on Saturday night. He was 96.

Former SGV chairman Cesar Purisima, also a former secretary of finance, said on Twitter that Sycip passed away while he was bound for New York.

Wash #SyCip passed away last night enroute to New York. Wash was 96 years old and lived a very full and meaningful life. I will miss you #WS

— Cesar Purisima (@CVP1960) October 8, 2017

SGV & Co. also confirmed its founder's demise in a post on Facebook.

It said, "Mr. SyCip went quietly while on a flight to Vancouver from Manila."

The accounting firm said the Sycip family is requesting for some private time and information on memorial services will be released soon.

Rufino H. Abad of the Insurance Commission said in a Facebook post that Sycip's remains were brought to a hospital in New York.

SyCip was born on June 30, 1921 and passed the examination for Certified Public Accountants at the age of 18.

Since he was too young to receive a professional license, he decided to take a Doctorate degree in Philosophy at the Colombia University.

After the World War II, SyCip returned to Manila and set up his accounting firm W. SyCip & Co. in Binondo. He later partnered with Alfredo M. Velayo and renamed the firm to SyCip, Gorres, Velayo & Co. (SGV).

SyCip also earlier served as the first chairman of the Asian Institute of Management (AIM) when it was founded in 1968 by a consortium of prominent business leaders, Philippine academic institutions, and the Harvard Business School. —Jon Viktor D. Cabuenas/ALG, GMA News