Placido Mapa Jr.
Dr. Placido "Cidito" Ledesma Mapa Jr., A.B., A.M., PhD (June 24, 1932 – May 5, 2019)[1] a Filipino businessman, economist, and government official best known for having served as the second head of the National Economic and Development Authority (NEDA), which is the Philippines' highest economic and development planning body. He was once governor of the Development Bank of the Philippines (DBP). He also held the position of Alternate Executive Director for the Philippines of the International Monetary Fund.[2] He was President of the Philippine Economic Society from 1965 to 1966.
Dr. Placido L. Mapa Jr. | |
|---|---|
| 2nd Director-General of the National Economic and Development Authority Concurrently Minister of Economic Planning | |
| In office 1981–1983 | |
| President | Ferdinand Marcos |
| Preceded by | Gerardo Sicat |
| Succeeded by | Cesar Virata |
| Personal details | |
| Born | June 24, 1932 Talisay, Negros Occidental, Philippines |
| Died | May 5, 2019 (aged 86) |
| Nationality | Filipino |
| Alma mater | Harvard University Ateneo de Manila University |
| Occupation | Banker businessman |
| Profession | Economist |
He served Metropolitan Bank & Trust Company (Metrobank) for over 30 years in various capacities including President and vice-chairman. During his stint with Metrobank, he was also President of the Bankers Association of the Philippines. He was also the President of the Metrobank Foundation, Inc.,[3] and chairperson of the Board of Advisers of Metrobank.
Mapa Jr. was the Founding Chairman of the Board of the Center for Research and Communication (CRC), and of the University of Asia and the Pacific which evolved from it.[4]
He was a son of Placido Mapa Sr. who served as Mayor of Baguio City, President of Rehabilitation Finance Corp (RFC), the predecessor of Development Bank of the Philippines and founding President of Metrobank.
Education
Mapa obtained his A.B. from the Ateneo de Manila University, his M.A. from St. Louis University, and his PhD in economics from Harvard University in Cambridge, Massachusetts.[5]
Opus Dei
It was at Harvard that Mapa first encountered and joined Opus Dei, becoming its first Filipino supernumerary member.[6] He invited Bernardo Villegas, Jesus Estanislao, who were also studying in Harvard at the time, to the organization. Upon returning to the Philippines, they became the key figures in the establishment of Opus Dei's apostolate in the Philippines.[7]
Early career
After graduating from Harvard in 1962, Mapa briefly served in the private sector, working for the National City Bank of New York, which would later be renamed Citibank.
Entering government service
In 1964, Mapa was recruited by President Diosdado Macapagal in 1964 to serve as Deputy Director General for the Program Implementation Agency (PIA), an advisory group Macapagal created to support the economic work of the Office of the President.[8]
Presidential Economic staff
A year later, Macapagal was defeated by Ferdinand Marcos in the 1965 Philippine Presidential Election. One of Marcos' early strategies for was to surround himself with US-trained economists, projecting his administration as young, modern, and professional.[9] Along those lines, the new President retained Mapa as deputy at the PIS, despite having been a Macapagal appointee. Marcos then elevated Mapa Director General when he renamed the PIS as the Presidential Economic Staff (PES).[8] Placed under him as deputies were Alejandro Melchor, whom Marcos would later appoint as executive secretary, and Cesar Zalamea who would later serve as DBP chair.[10]
DBP, IMF, NEDA and PNB
Mapa briefly rejoined the private sector in 1974, taking up a post as general manager of the Philippine Commercial & Industrial Bank, and then as president of the Philippine Foreign Loan & Guarantee Corporation.
In 1977, he was also appointed chairman of the board of the Development Bank of the Philippines (DBP).[8]
He then moved to Washington D.C. to serve in the International Monetary Fund.[8]
In 1981, Marcos once again tapped Mapa's services – this time to head the NEDA (National Economic & Development Authority) as its second Director General, after Gerardo Sicat.
He served until 1983 when he was appointed President of the Philippine National Bank. As President of PNB, he was also a member of the Monetary Board. Mapa's post at the NEDA was reassigned to Cesar Virata.[8][10]
Metrobank
After 1986, Mapa continued to serve in the banking sector.[11] He was President of Metropolitan Bank and Trust Company (Metrobank) from 1989–1991, Vice chairman from 1992–2005, Chairman of the Metrobank Board of Advisers from 2006–2009 and Senior Adviser from 2010–2019.
Founded in September 5, 1962, Metropolitan Bank & Trust Co. (Metrobank) has since become the premier universal bank and among the foremost financial institutions in the Philippines. Mapa's father, Placido Mapa Sr. was the founding President of Metrobank. The Bank offers a full range of banking and other financial products and services, including corporate, commercial and consumer banking, as well as credit card, remittances, leasing, investment banking and trust banking. It established Metrobank Foundation, Inc. in 1979, putting emphasis on both business success and community contribution. The Foundation has since become one of the largest and most respected charitable organizations in Asia.
Mapa also served as President of Metrobank Foundation, Inc. and also became a Senior Adviser to the Foundation.
During his stint in Metrobank, he was also concurrently President of the Bankers Association of the Philippines (BAP) from 2000–2001 and eventually became a Member of the Advisory Council of the BAP.
Death
In May 2019, the University of Asia and the Pacific, on whose board Mapa sat as Chair, reported that he had died May 5, 2019.[1]
Mapa's passing was also reported by Gerardo Sicat in his column in Philippine Star on May 8, 2019
He is survived by his wife Ma. Corazon Tinio Mapa, his nine children and three grandchildren.
References
- "In Memoriam: Dr. Placido Ledesma Mapa, Jr". University of Asia and the Pacific. Ortigas Center, Pasig City: University of Asia and the Pacific. 2019. Archived from the original on May 8, 2019. Retrieved May 8, 2019.
- Annual Report of the Executive Board for the Financial Year Ended April 30, 1981., p. 216, at Google Books
- http://investing.businessweek.com/research/stocks/people/person.asp?personId=11502833&ticker=MBT:PM&previousCapId=723672&previousTitle=ASIAN%20TERMINALS%20INC
- Villegas, Bernardo M. (August 10, 2017). "Building the institution of CRC-UA&P (Part I)". Manila Bulletin. Archived from the original on August 10, 2017. Retrieved May 7, 2019.
- http://nlpdl.nlp.gov.ph:9000/shares/finders/NL03/NLPNLBK18585fd/117.pdf
- Estanislao, Jesus (May 12, 2019). "Placido L. Mapa, Jr. (June 24, 1932 to May 5, 2019)". opusdei.org. Archived from the original on June 4, 2019. Retrieved June 4, 2019.
- Gayo, Jose Rene C. (October 21, 2014). "Give what you receive". Business World. Archived from the original on July 1, 2018. Retrieved June 4, 2019.
- "Awardee Profile: Mapa, Placido L. Jr". dlsaa.com. De La Salle Alumni Association. Archived from the original on May 7, 2019. Retrieved May 7, 2019.
- Magno, Alexander R., ed. (1998). "Democracy at the Crossroads". Kasaysayan, The Story of the Filipino People Volume 9:A Nation Reborn. Hong Kong: Asia Publishing Company Limited.
- https://www.philstar.com/business/2017/09/05/1736112/marcos-and-how-he-formed-his-economic-team
- https://www.rappler.com/newsbreak/fast-facts/39562-fast-facts-marcos-cabinet
External links
| Preceded by Gerardo Sicat |
Director-General of the National Economic and Development Authority 1981–1983 |
Succeeded by Cesar Virata |