Andrew
Gotianun, Sr. The Filinvest Development Corporation was founded by Andrew Gotianun,Sr. 1955. This was originally involved in small-scale financing of second-hand cars. In 1967, Gotianun Family entered the real estate business through the incorporation of Filinvest Realty Corporation, which engaged in the development of residential subdivisions. In the 1970’s, Filinvest Development Corporation expanded into consumer finance in partnership with foreign institutions, such as Chase Manhattan Bank, Westinghouse Electric Corporation and Ford Philippines. Also during the 70’s, Andrew and his wife Mercedes established Filinvest Credit Corporation, and later Family Bank and Trust Company (FBTC). Under Gotianun's stewardship, FBTC became one of the biggest financial institutions in the country, then. By the early 1980s, the Gotianun Family’s Filinvest Credit Corporation had become one of the leading consumer finance companies in the Philippines in terms of assets. Gotianun is a descendant of the Go clan based in Cebu. He is a grandson of the brother of Don Pedro Gotiaco who arrived in Cebu in the late 19th century from Fookien, China. Gotiaco started selling rice and worked hard to become one of the wealthiest taipans during those times. In his teens, Andrew spent his time salvaging ships in Cebu during and after World War II. The Gotianun couple decided to retire in the 80’s and after a short time, decided to return to re-enter the financial and banking industry. In 1994, the Filinvest Development Corporation incorporated East West Banking Corporation. On June 29, 2007, FDC further diversified its businesses by acquiring 100% of the shares of Pacific Sugar Holdings Corporation (PSHC), a sugar company incorporated on June 5, 1989, from ALG Holdings in exchange for 1.55 billion shares of FDC. The Gotianuns and the whole Filinvest Group have been actively supporting the Educational Research and Development Assistance (ERDA) since it was established by Fr. Pierre Tritz, a French who withdrew his citizenship to become a naturalized Filipino, in 1974. ERDA provides scholarships to children who cannot go to school because of poverty. To do their share, the Gotianuns mobilized their employees in the Filinvest Group for a fun-run wherein the Gotianuns pledged to sponsor the education of one child for every finisher. Sources: http://www.eastwestbanker.com/info/ew_chairman.asp  |
Filinvest has developed over 1,800 hectares of land, and provided
home sites for over 100,000 families, which makes it one of the
largest home providers in the Philippines today.