Placido Mapa Jr

Placido "Cidito" Ledesma Mapa Jr. (June 24, 1932 – May 5, 2019) 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. He was President of the Philippine Economic Society from 1965 to 1966.

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., 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.

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.

Opus Dei

It was at Harvard that Mapa first encountered and joined Opus Dei, becoming its first Filipino supernumerary member. 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.

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.

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. 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). 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.

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).

He then moved to Washington D.C. to serve in the International Monetary Fund.

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.

Metrobank

After 1986, Mapa continued to serve in the banking sector. He was President of Metropolitan Bank and Trust Company (Metrobank) from 1989 to 1991, Vice chairman from 1992 to 2005, Chairman of the Metrobank Board of Advisers from 2006 to 2009 and Senior Adviser from 2010 to 2019.

Founded on 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 to 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.

Mapa's death 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

External links

Profile of Dr. Placido L. Mapa, Jr.

{{DEFAULTSORT:Mapa, Placido
University of Asia and the Pacific faculty
Harvard University alumni
2019 deaths
People from Negros Oriental
Directors-General of the National Economic and Development Authority of the Philippines
Ferdinand Marcos administration personnel
Filipino business executives
Ateneo de Manila University alumni
Saint Louis University alumni
1932 births