Early Life
Teresita Tan Sy-Coson was born in October 1950, as the eldest child of Henry Sy, the founder of SM Investments Corporation (SMIC), and Felicidad Tan. She comes from a business-oriented family, with her father and maternal grandfather both having shoe store businesses. Teresita graduated from Assumption College in Manila in 1970 with a degree in commerce. Initially, she had plans to pursue a master's degree, but her father encouraged her to join the family business.
Rise to Success
Teresita Sy-Coson began her career in her father's Shoemart store, focusing on merchandising and quickly doubling sales. In 1972, at the young age of 22, she successfully launched the family's first department store. Her career rapidly evolved, and she played a key role in the development of SM, including the launch of SM North EDSA in 1985, the group's first shopping mall. In 1990, she was appointed president of SM Department Stores, and under her guidance, the number of stores increased significantly. Sy-Coson also spearheaded BDO Unibank's growth, transforming it into the largest bank in the Philippines.
Key Business Strategies
Key business strategies include a focus on merchandising, expansion, and diversification. Sy-Coson emphasized efficiency, innovation, and adapting to consumer needs in both retail and banking. For BDO, she prioritized serving a broader market, including smaller businesses. She is also involved in strategic planning for diversification, which has been crucial for SM Prime Holdings.
Philanthropy
Sy-Coson is actively involved in philanthropy, serving as Vice Chairperson of the SM Foundation, established by her parents in 1983. The foundation focuses on education, healthcare, and sustainable development. Under her direction, the foundation has allocated significant resources to these initiatives, supporting various programs such as school building, medical missions, and agricultural training, primarily for underserved communities. During the COVID-19 pandemic, the SM Foundation donated vaccines, hospital equipment, and protective gear to support healthcare workers.
