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Postscript A Good Night’s Sleep

and settle for what was passable. SGV was his way of showing that Filipinos could
become world-class professionals, and that continuous learning was vital to delivering
sound advice, which translates to good business and a better economy.”

“Where I am today, it’s all because of SGV. I owe it to the Firm, and to Mr. SyCip
particularly who was really a mentor, and maybe a tormentor as well,” Vic says with
a laugh. “I’m very grateful to the old man.”

The value of stewardship

J. Carlitos “Itos” Cruz joined SGV in 1981 right after college and was appointed Chairman
and Managing Partner in 2017, succeeding Vic Noel. All in all he spent almost four
decades with SGV—his whole professional life until retirement—but it wasn’t until his
th
15 year in the Firm, in 1996, when he encountered Wash after joining the partnership
and becoming audit partner-in-charge of Lufthansa Technik Philippines.

And so began a long and fruitful mentorship that not only put Itos on track to
the top but instilled in him the qualities of leadership that would ensure the Firm’s
endurance and high quality of service into a new century. When Itos became Head
of Assurance Services in 2007, Wash extended him his fervent congratulations—but
it was only another step in a long process of priming him for greater responsibilities.

“I found him to be very, very tough and strict,” recalls Itos. “It took me days to prepare
for an hour’s meeting with him. He was intimidating to be sure, but he never raised
his voice in anger. Rather, he carefully chose words that reflected that anger. What
annoyed him most was when people pretended to know the answers, but didn’t.”

“He emphasized the need to help our clients succeed in their business. Technically
this was no longer related to the audit, but Wash expected you to understand the
business, understand the challenges of the clients, and provide solutions. These were
business solutions, not audit or accounting solutions. This was how Wash ingrained
the virtue of continuous learning in us.”

Three times a month, Wash would call Itos to lend his insights into how SGV could
cope with the current business environment. Being a voracious reader, he bounced
ideas off Itos, to see how the younger man would respond to them.

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