SM's Sy-Coson named honorary mayor

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ILOILO CITY — Tessie Sy-Coson, vice chairman of SM Investments Corp. and chairman of BDO Unibank, was conferred the title of Honorary Mayor of this city in a ceremony that recognized her contributions to the city's economic development.

HONORARY MAYOR Tessie Sy-Coson, vice chairman of SM Investments Corp. and chairman of BDO Unibank, receives the title of second honorary mayor and adopted daughter of Iloilo City in a ceremony held on June 5, 2025. PHOTO COURTESY OF ILOILO CITY GOVERNMENT

The conferment, formalized through an executive order (EO) by Mayor Jerry Treñas, acknowledged her role in helping transform Iloilo into a vibrant urban hub through investments, inclusive programs, and public-private partnerships.

As one of the country's most influential business leaders, Treñas said Sy-Coson has steered the SM Group's initiatives that have significantly impacted the lives of Ilonggos.

"SM Prime Holdings Inc. (SMPHI) has always been a supportive corporate partner in Iloilo City's endeavors in economic and social development, as well as environmental, cultural, and heritage preservation in redeveloping our public markets," the EO read.

Treñas cited the SMPHI's undertaking of a major redevelopment project of two key public markets: the Iloilo Central Market and the Iloilo Terminal Market.

The project is a public-private partnership (PPP) aimed at modernizing and revitalizing these markets to improve conditions for vendors and consumers, and to boost the city's economic growth and tourism appeal.

He added that through SM and BDO Foundations, programs on financial literacy, food safety, and customer service training were delivered to local market vendors.

BDO Foundation also provided seed capital worth P5,000 each to qualified vendors to support their businesses.

"Her expertise, vision, and leadership have shaped the business landscape of the Philippines, leading to the creation of several jobs, improving the lives of tens and thousands of employees and stakeholders," it added.

Treñas also emphasized that the SM Group is set to further expand its presence in the city with the upcoming launch of National University Iloilo and the SMX Convention Center.

'Adopted daughter'

In the same ceremony on Thursday, the city government has also conferred the title of "Adopted Daughter of Iloilo City" on Sy-Coson.

"Iloilo City has come a long way, evolving into the vibrant and progressive hub that it is today," Treñas said.

"This remarkable transformation is a testament to the unwavering trust, dedication, and confidence of those who have walked alongside the city [...] Today, we are honored to recognize one such individual," he added.

Sy-Coson said that having lived in Iloilo since 1979, she has witnessed the growth of both SM's businesses and the city itself.

"I really have seen a big difference. We will grow together. In terms of the business establishment, we will be expanding still. In terms of the foundations and the community work, we will also be working here," she said.

Sy-Coson furthered that SM adopted Iloilo as one of the main cities for its investments.

"This is more than just an expansion; it's a strategic decision to build a workforce and involve companies within the city itself," she stressed.