Tessie Sy-Coson recognizes the crucial role of CFOs

MANILA, Philippines - With the rapidly evolving business landscape, companies are relying more heavily on the strong leadership qualities of chief financial officers (CFOs) to steer them in the right direction and forge sound wealth-generating strategies. Tessie Sy-Coson, the vice chairman of SM Investments Corporation (SMIC), attests to the importance CFOs play in the success of business conglomerates like the SM Group.

“As we have continued to grow in the last half century, analyzing investment opportunities and raising the capital to finance our business is critical,” she says of SMIC. “Our CFO serves as a partner in business development. He analyzes and presents to our principals and board the many finance issues and helps distill them.”

Joining the company more than two decades ago, Jose Sio, executive vice president and CFO of SMIC, has been a prime mover of the various successes of the SM Group. Facilitating the company’s dynamic expansion throughout the years, Sio has managed to lead the SM Group to become one of the country’s largest conglomerates with the biggest market capitalization.

Sy-Coson attributes Sio’s exceptional performance to his outstanding leadership qualities, adaptability, and integrity as a leader in finance.

“Intelligence and people skills are very important. A good CFO should be able to adjust to the management style of his company. There may be many intelligent finance professionals but they will not be effective if they cannot present options and recommendations that can be understood and acted upon,” she says about the skills and qualities of a good CFO.

With over 20 years in service, Sio has not only earned the trust and recognition of the finance industry but the Sy family as well.

“My father, Henry Sy Sr., asked Joe to join us after working as the SGV partner handling SM. He joined the group and has trained many people to deepen the bench. Even my siblings and I have learned from him and we treat him as a member of the family,” adds Sy-Coson.

In 2009, Sio was named CFO of the Year, an annual award given by the ING Bank and the Financial Executives Institute of the Philippines (FINEX) to honor the country’s best financial professionals. Joining Sio on the illustrious list will be another one of the Philippines’ most outstanding finance leaders as ING and FINEX awards the CFO of the Year Award for the fourth year on Nov. 17.

Sy-Coson sums up the instrumental role that CFO Jose Sio plays in the continued growth of the SM Group.

“With more businesses, industries, and geographic areas we work in, our CFO has helped us build a strong finance, MIS, reporting and compliance system to allow us to make quick and sound decisions to help us continue to grow.”