Former Prime Minister Cesar Virata dies at 95

Cesar E. A. Virata, one of the longest-serving finance chiefs and former prime minister, died Friday of natural causes at age 95, according to his family. “​A long-serving technocrat and statesman, Mr. Virata served… a central role in shaping Philippine economic policy and international financial relations over two decades,” his family said in a statement. Mr. Virata was known for his role during President Ferdinand E. Marcos Sr.’s administration, where he served as Minister of Finance and Prime Minister for about two decades, from 1970 until 1986. During Martial Law, the veteran technocrat held prominent leadership roles in global institutions, including chairing the World Bank-International Monetary Fund Joint Development Committee from 1976 to 1980 and the Asian Development Bank Board of Governors in 1979. After the fall of Marcos’ administration in 1986, Mr. Virata returned to corporate governance and management consulting across banking, insurance, education, property and infrastructure sectors. He became the Chairman and President of his own firm, C. Virata & Associates, and has served in leadership roles at Rizal Commercial Banking Corp. (RCBC) since 1995. “Mr. Virata was a valuable part of the organization, being a Director of the Bank since 1995 and has been the Board’s Corporate Vice Chairperson for 26 years,” the bank said in a disclosure,” the Yuchengco-led bank said in a disclosure. Mr. Virata also held board or advisory roles at Malayan Insurance, Lopez Holdings, BusinessWorld Publishing and several Yuchengco Group companies. ​He is survived by his wife, Phylita Joy Gamboa Virata; his children, Steven, Gillian, and Michael; his grandchildren, Enzo, Danni, Xavi, and Diego; and his great-grandchildren, Coco and Sierra. — Almira Louise S. Martinez