George Ty passes away, 86
The country’s ninth-richest businessman died on Friday, Nov. 23.
George S.K. Ty, founder of the Metropolitan Bank & Trust Company, passed away surrounded by family and loved ones. He was 86.
Ty established Metrobank in 1962 in Binondo, Manila and later on entered other industries like insurance, leasing, and investment banking. His empire grew as GT Capital Holdings to include Toyota Motor Corporation, AXA insurance, Orix Metro Leasing, with 18 domestic subsidiaries, partners and affiliates in various industries.
Ty has since passed on direct operations of his companies to his sons Arthur and Alfred.
Memorial services will start on Nov. 25, 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 company said in a statement.