Success Story of Alfonso Yuchengco: Filipino Diplomat, Banker, and Philantropist
His road to success may not your typical rags-to-riches story, but Alfonso Yuchengco’s life is something that would inspire someone to never stop improving and striving for more success. He took care of the family business, and he let it grow, making it known to be one of the most prominent conglomerates in the Philippines.
IMAGE Alfonso Yuchengco Foundation
Alfonso Yuchengco, born in 1923, was the youngest of the five surviving sons of Don Enrique Yuchengco, an immigrant from Fukien, China. He was born to a wealthy family, as the Yuchengcos have already been venturing in a rice-trading, lumber and construction businesses in Binondo, Manila even before his birth. The patriarch also ventured in insurance business sometime in the 1930s, eventuall becoming the Malayan Insurance Company of today.
Yuchengco holds an undergraduate degree in Commerce from the Far Eastern University, and a graduate degree at the Columbia University. He also received a Doctor of Business Administration from De La Salle University, and a Doctor of Laws, honoris causa, from Waseda University in Japan.
His education gave him a background of everything he needs to learn in business, so when Don Enrique retired, he was able to take over and expand the family business. He started the Greater Pacific Life Insurance Company (Grepalife), a life insurance firm. In 1960s established the Rizal Commercial Banking Corporation (RCBC).
IMAGE from RCBC
Aside from being the Chairman of the Yuchengco Group of Companies, he also heads the Board of MICO Equities, Inc., Pan Malayan Management and Investment Corporataion, MAPUA Institute of Technology, Nippon Life Insurance Company.
He wasn’t only a businessman, as he was also a philanthropist. For him, money is not as important as personal integrity. He chairs the Alfonso Yuchengco Foundation, an organization which aims to address issues on health, nutrition, and education in the country.
He has made notable contributions as a diplomat. He served as the Philippine ambassador to China, Japan, and the United Nations, where he worked to strengthen the country’s international relationships. His diplomatic efforts were crucial in fostering better ties and cooperation between the Philippines and these nations. His role in diplomacy showcased his ability to navigate and influence the global stage, which benefitted the country’s foreign relations.
His commitment to education was further demonstrated through his involvement in the development of institutions like Mapúa University, one of the leading engineering and technological schools in the Philippines.
IMAGE from Mapúa University
Alfonso passed away on April 15, 2017, at the ripe age of 94, but his legacy lives on through his enduring contributions to business, diplomacy, and education in the Philippines.
