PwC Philippines turns 95


    PwC alumni have a tradition of getting together every five years. But when they do on their 95th anniversary in July, something else will be on their minds: their 100th anniversary in 2022.

    Not many companies make it to 100, and Isla Lipana & Co., Philippine member firm of the global professional services giant PwC, is preparing for their centennial five years in advance.

    “ ‘Expensive’ is relative, and is actually based on the value you get and on the insights we bring to the table,” PwC Philippines Chairman and Senior Partner Alex Cabrera explains, saying that the firm is not “myopic” in terms of what clients it serves and that they are able to tailor services to fit needs and contexts. Photo by Roger Rañada

    The firm started in 1922 as accountancy practice White, Page & Co. Among their earliest clients was a very young company itself at the time, Ortigas & Co., which they continue to work with to this day.

    White, Page & Co. came to be known as Stewart, Cunanan and Co. in 1951. Five years later, Joaquin Cunanan became its first Filipino senior partner. In 1958, it was designated as the local correspondent of UK firm Price Waterhouse and in 1971, a member of Price Waterhouse International. The company changed its name to Isla Lipana & Co., in 2005; its global network meanwhile rebranded itself as PwC in 2012.

    Isla Lipana & Co., PwC Philippines, is currently headed by Alexander Cabrera, a lawyer, and offers an integrated, multi-disciplinary package of financial business services, including assurance, tax, deals and corporate finance, and consulting. It has clients from a diverse range of sectors, including services, manufacturing, mining, oil and gas, and banking and finance.

    The firm now has 27 partners and 1,000 staff, with offices in Metro Manila and Cebu, and another in Davao soon to open.

    Its prominent alumni include Accountancy Hall of Famer Joaquin Cunanan, former SSS President Cora de la Paz, former Bureau of Internal Revenue Commissioner Rene Bañez, former Communications Secretary Sonny Coloma and current Court of Tax Appeals Associate Justice Cathy Manahan.



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