Her journey from being the daughter of a self-made tycoon to a business icon in her own right serves as an inspiration not just to Filipinos but to aspiring leaders.
Sy-Coson’s leadership brought the SM group to new heights through ventures with high growth opportunities and innovations that showed her keen sense of direction.
PHOTOGRAPH BY Getty Images
Mother’s touch Tessie Sy-Coson personally checks the prices of vegetables at SM groceries, ensuring affordable and healthy options for fellow homemakers.
PHOTOGRAPH by analy labor for the daily tribune @tribunephl_ana
In the fast-paced world of business and philanthropy, few individuals manage to leave an indelible mark year after year. Tessie Sy-Coson, the vice chairperson of SM Investments Corporation and chairperson of BDO Unibank, has done just that.
This year, the DAILY TRIBUNE named her its 2024 Filipino of the Year, a testament to her extraordinary contributions to the Philippine economy, her unwavering dedication to corporate social responsibility, and her inspiring leadership in a challenging global landscape.
As the eldest daughter of the late retail tycoon Henry Sy Sr., Sy-Coson has long been a force to reckon with in Philippine business as the acknowledged leader of the SM group of companies. However, her achievements in 2024 have elevated her profile even further.
With her guiding hand, SM Investments Corporation (SMIC) has continued to grow its diverse portfolio, encompassing retail, real estate, banking and more. Despite global economic uncertainties and the lingering impacts of the pandemic, SMIC achieved record-breaking revenues this year, further cementing its role as a cornerstone of the Philippine economy.
Sy-Coson has been pivotal in guiding SMIC’s expansion into sustainable and inclusive ventures. In 2024, the corporation launched several landmark projects aimed at addressing the housing crisis and promoting green energy. SM Development Corporation (SMDC) unveiled affordable, eco-friendly housing projects in urban centers, providing much-needed solutions to the nation’s housing backlog.
Meanwhile, SM Prime Holdings, another flagship entity, has increased its investments in solar and wind energy, aligning with the global push for carbon neutrality.
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Her business acumen extends beyond growth and profits; it’s about creating a meaningful impact. Sy-Coson has championed programs that uplift marginalized communities.
Through the SM Foundation, she has prioritized education and healthcare. This year alone, the foundation awarded thousands of scholarships and expanded its network of wellness centers across the country. Her mantra — “Success is measured by how many lives you’ve touched” — resonates in every project she undertakes.
Sy-Coson’s influence isn’t confined to the corporate world. She’s an advocate for women’s empowerment, pushing for greater gender diversity in leadership roles. In 2024, she led initiatives to mentor aspiring female entrepreneurs, proving that the glass ceiling can and must be shattered. Her story serves as a powerful narrative for young Filipinas aiming to make their mark in traditionally male-dominated industries.
In fact, six other contenders for the honor were all men. They include Ayala corporation’s Jaime Zobel de Ayala, Jollibee’s Tony Tan Caktiong, San Miguel Corporation’s Ramon Ang, JG Summit Holding’s Lance Gokongwei, Aboitiz Equity Ventures’ Sabin Aboitiz and International Container Terminal Services Inc.’s Enrique Razon, last year’s awardee.
DAILY TRIBUNE’s decision to honor Sy-Coson comes at a time when the Philippines is navigating complex economic challenges. Rising inflation, climate change and social inequality have tested the resilience of businesses and communities alike. Sy-Coson’s leadership — anchored on innovation, sustainability and compassion — provides a blueprint for addressing these pressing issues.
“Tessie Sy-Coson epitomizes the kind of leadership the world needs today,” DAILY TRIBUNE’s editorial board said in its announcement. “She has shown that success is not merely about financial milestones, but about driving meaningful change in society.”
Her recognition as DAILY TRIBUNE’s 2024 Filipino of the Year also reflects her role as a global ambassador for the Philippines. Sy-Coson has consistently represented the country in international forums, advocating for foreign investments and partnerships that benefit Filipino industries. Her participation in the 2024 World Economic Forum underscored the importance of ASEAN’s economic integration and the Philippines’ position as a regional leader.
Despite her towering achievements, Sy-Coson remains grounded. Colleagues describe her as approachable and empathetic, a leader who listens as much as she strategizes. Her management style emphasizes collaboration and empowerment, fostering a culture of excellence within SMIC.
Reports have it that given the opportunity, she personally sees to the quality of the vegetables to be sold in SM outlets. Despite her stature, she was also seen personally waiting for her luggage at the airport carousel when the most convenient thing to have done was assign it to someone else.
