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Alfonso Yuchengco

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In this Philippine name, the middle name or maternal family name is Tiaoqui and the surname or paternal family name is Yuchengco.
Alfonso Tiaoqui Yuchengco
楊應琳
Born(1923-02-06)February 6, 1923
Manila, Insular Government of the Philippine Islands
DiedApril 15, 2017(2017-04-15) (aged 94)[1]
Parañaque, Philippines
Resting placeManila Memorial Park
NationalityFilipino
Other namesAY
EducationFar Eastern University (BSc.)
Occupation(s)Accountant, banker, businessman, diplomat, investor, philanthropist
Known forFounder of Yuchengco Group of Companies, Rizal Commercial Banking Corporation
Spouses
  • Paz Sycip
  • Teresita Gómez
Children9
Parent(s)Enrique Yuchengco
María Tiaoqui

Alfonso Tiaoqui Yuchengco (simplified Chinese: 杨应琳; traditional Chinese: 楊應琳; pinyin: Yáng Yìng-lín; Pe̍h-ōe-jī: Iûⁿ Èng-lîm; February 6, 1923 – April 15, 2017) was a Filipino accountant, banker, businessman of one of the largest family-owned conglomerates in the Philippines.

RCBC is one of the country's largest commercial banks, near Mapúa University, and the Malayan School and Colleges located in Makati, with branches in Paco, Davao and Laguna.

Early life and education

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Yuchengco was born to Enrique Yuchengco, the founded of China Insurance and Surety Co. of the Yuchengco Group and Maria Tiaoqui in Binondo, Manila in 1923.[2] Yuchengco attended a local Manila grade school, before attending De La Salle University for high school and finished in 1940.[3] Then he held a Bachelor of Science in Commerce, major in Accountancy, from the Far Eastern University. He took and passed the licensure examinations for certified public accountants.

Business career

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When Don Enrique passed away in 1953, the young Alfonso took over the reins of the family enterprise starting with Malayan Insurance.[2] Yuchengco was the Chairman of the Yuchengco Group of Companies, and concurrently the Chairman of the Board of MICO Equities, Inc. (holding company of the Malayan Group of Insurance Companies); Pan Malayan Management and Investment Corporation; Mapúa Institute of Technology; Nippon Life Insurance Company; and the Rizal Commercial Banking Corporation.[4]

He had been the Chairman of the Board of Directors of GPL Holdings; House of Investments, Inc.; BA Savings Bank; Dole Philippines; Philippine Long Distance Telephone Company; Benguet Corporation; and the Philippine Fuji Xerox Corporation.[4]

Academe

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Yuchengco was the Chairman of the Board of Trustees of the Mapúa University, a top-performing engineering school in the country. He was also the Chairman of the Malayan Colleges Laguna, and Malayan High School of Science, an innovative science high school.[4]

He had been a member of the Board of Advisors of the Columbia Business School, one of the leading business schools in the world.[4]

Diplomacy

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Yuchengco had been the Philippine Permanent Representative to the United Nations, with the rank of Ambassador Extraordinary and Plenipotentiary (A.E.P.).[4]

He had also served as Presidential Adviser on Foreign Affairs in 2004; Presidential Assistant on APEC Matters in 1998; Philippine Ambassador to Japan in 1995; Philippine Ambassador to the People's Republic of China from 1986 to 1988; and Presidential Special Envoy to Greater China, Japan and Korea.[4]

In 2005, President Gloria Macapagal Arroyo appointed Yuchengco to the Consultative Commission for Charter Change, a special body tasked to review and recommend changes to the 1987 Constitution.[4]

Other interests

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Yuchengco was the Chairman of the Board of Bantayog ng mga Bayani Foundation. He was also the Chair Emeritus and Member of the Board of Governors of the Philippine Ambassadors Foundation; and Chair Emeritus and Past President of the Philippine Ambassadors Association.[4]

He was a member of the Board of Judges and a Principal Sponsor in the Mother Teresa Awards.[4]

He established a generous grant at the University of San Francisco to create the Maria Elena G. Yuchengco Philippine Studies Program.

Money laundering scandals

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The RCBC created an affiliate educational life-insurance company Pacific Plans Inc. which suddenly collapsed in 2005 amid showing of accounts laundered for illegal purposes. A pending class suit has been filed immediately after in court. Meanwhile, the Anti-Money Laundering Act was cited against RCBC for creating dummy accounts to flow in 81 million USD from the Bangladesh Central Bank despite the lack of consent. Part of the money was used for casino operations, resulting in another lawsuit for RCBC.[5]

Awards

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Signature
Auditorium, Bantayog ng mga Bayani

Yuchengco has received the following awards and citations:

  • Order of the Sacred Treasure, Gold and Silver Star, from the Emperor of Japan, 2003.
  • Grand Cordon of the Order of the Rising Sun, from the Emperor of Japan
  • Order of Sikatuna, Rank of Datu, from then President Fidel Valdez Ramos
  • Knight Grand Officer of Rizal, Knights of Rizal.
  • Order of Lakandula, Rank of Bayani (Grand Cross).
  • Most Distinguished Alumnus and Hall of Fame Awardee, Far Eastern University, 1955 and 2003.

References

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  1. ^ "Taipan and diplomat Alfonso Yuchengco dies". ABS-CBN News. April 17, 2017. Retrieved October 22, 2022.
  2. ^ a b "One:The YGC Story".
  3. ^ "Yuchengco, Alfonso T." January 8, 2005.
  4. ^ a b c d e f g h i Chairman's profile, Yuchengco Group of Companies. 2006.
  5. ^ Ng, Leveric (2016). "RCBC".
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