BY IRIS GONZALES
Whether in retail or real estate, cars or banking, insurance and more, Alfred Ty continues to show why he’s one of the country’s most respected business figures.
Pundits in the business community know that when it comes to the Tys, there’s always some things that stand out. They are sophisticated and tasteful, grand yet classy. This is because the Tys believe that the enduring legacy of the Ty name is bigger and more important than the usual profits and numbers.
It is therefore no surprise that tycoon Alfred Ty always makes sure that his businesses stand out in a market that is already overflowing with choices. Indeed, whether it’s a car brand or a condominium, a five-star hotel or a Japanese mall in the Philippines, if it’s under the Ty portfolio, you can be sure that you are getting the best in its class.
Alfred Ty or AVT as he is known in the business community, is the son of the late banking and automotive tycoon George Ty. He and his older brother Arthur have been carrying on their father’s legacy as the second generation tycoons who are now running GT Capital, the listed Ty-owned conglomerate.
GT Capital’s multi-faceted businesses include property through Federal Land Inc.; automotive through Toyota Motor Philippines (TMP) Corp.; dealership through Toyota Manila Bay Corp.; and GT Capital Auto Dealership Holdings Inc.; banking through Metropolitan Bank & Trust Company; and insurance through Philippine AXA Life Insurance Corp. It also has a stake in Metro Pacific Investments Corp. In running the conglomerate, Alfred is in charge of Toyota, Lexus, Federal Land and Grand Hyatt, among others, while Arthur handles the bank and insurance businesses.
“My brother and I, we have a fairly good division of labor in the workplace. So it is very clear that his focus is on the financial side and my focus is on the non-banking side. He’s a financial person and I like to be on the field, looking at the construction site, going to the assembly line — of course, not as much as I used to do. I learn from his advice and inputs,” Alfred says.
In November 2022, the businessman added a new dimension to local shopping and retail when he brought Mitsukoshi to the Philippines. Aside from its unique offerings and stylish interiors,
Mitsukoshi, according to Alfred, embodies a very special partnership.
“I think I find it significant to be able to invite a major player from Japan not just to operate and lend the brand, but to put equity in it. We believe that the story has just begun, and we look forward to the journey it has started when it comes to bringing together the Filipino and Japanese lifestyle,” he says. “There is a lot of synergy between the two nations and it will be exciting to see this develop further.”
In 2023, Toyota also celebrated its milestone 35th anniversary. Alfred, in his speech at the Grand Hyatt Manila earlier this year, put the spotlight on TMP’s invaluable role in helping build a nation. Since the company was founded in 1988, it has paid P488 billion in duties and taxes to the government and made cumulative investments of P73.7 billion.
Beyond the numbers, the gentleman adds that Toyota’s enduring presence in the country is also about being a big part of people’s lives. Our individual and unique Toyota stories are a testament to this.
Kaizen
As a business leader, Alfred himself has embraced the Japanese business philosophy of Kaizen.
“I think the spirit of continuous improvement, the philosophy of ‘Kaizen’ is a good philosophy to live by,” he tells PeopleAsia.
Kaizen sees improvement in productivity as a gradual and methodical process. As a concept, kaizen encompasses a wide range of ideas. It involves making the work environment more efficient and effective by creating a team atmosphere, improving everyday procedures and making the job more fulfilling.
Alfred adds that while he respects hierarchy, he is also more collegial in his approach to business. He keeps an open mind towards novel ideas and listens to the suggestions of members of the team.
“First of all, there must be willingness to learn. One must also have the humility to understand that there is always something to be picked up from anybody you are in conversation with and to observe around for best practice solutions,” he says.
As a second generation tycoon, Alfred learned a lot from his father George. The well-loved and respected business icon instilled in his son values of discipline, respect for processes and having in-depth knowledge of the business.
He once recalled that when he was young, perhaps as his father’s apprentice, his dad would make him dial the telephone to call up people in the office. There were no smart phones yet at the time and the younger Ty had to keep dialing when the numbers were busy, in order for him to learn about perseverance.
As their father instilled in them, the Ty siblings also had to report to work in the offices daily at 7:30 a.m., because meetings would start at 8 a.m.
Alfred’s heroes
Aside from his father, he has also learned so much from fellow tycoons and businessmen.
“I’ve been privileged to be working, to be sitting in the same table, same boardroom with top businessmen. Aside from my father of course, there’s my father-in-law and Washington SyCip,” he tells us.
Ty’s father-in-law is Kapitan himself, Philippine Airlines’ chairman Dr. Lucio Tan, the father of his wife Cherry. “I have had the privilege of listening to the words of advice from Chief Justice Panganiban. I’ve had many meetings, many talks with Chairman Manny Pangilinan, even Anthony Salim — listening to them, listening to why they decide on things the way they do. The thinking process of making the decision is all something to absorb and to think about and not to just let it pass,” adds this “People of the Year” awardee.
As the man pushing for the renowned Japanese car brand in the Philippines, Alfred, unsurprisingly, also constantly learns from Toyota chairman Akio Toyoda. “His very frank and practical solutions to complicated problems truly inspire me,” he explains.
Business with a heart
Of course, it’s not all business for AVT or the Ty Group. Their foundations are some of the biggest and most well-known in the country.
“The Foundations we run are the Metrobank Foundation, GT Foundation, Toyota Motor Foundation and they are the pillars set up to help the community in terms of education. We choose Outstanding Filipinos — choosing the best teachers, soldiers and policemen — and that’s truly a worthwhile program to follow,” ends Alfred.
