Celebrating a man who changed an institution—and the country—forever
When Leonides Virata, secretary of Commerce and Industry in 1969, and Development Bank of the Philippines (DBP) chairman 1970-1976, passed away at age 58 in 1976, he left behind a deep and lasting legacy—such that even 45 years later, the current officers of the DBP speak of him with deep respect and reverential awe. When he assumed the stewardship of the bank in 1970, it was saddled with bad loans, and Leo Virata basically straightened up the messy situation to the best of his ability, and reoriented the bank’s portfolio to support countryside development and grass roots infrastructure—an orientation that persists as the DBP’s mission-vision to this day.
Asked by son Luis “Buboy” Virata a few years back, to write the biography of his father, Butch Dalisay recounts how much of a challenge this was. “I had heard of the name, but knew very little about the man himself, and I realized how difficult it would be to reanimate the character of a man who has been gone for over 40 years,” he says. To be published by the Cavite Historical Society, Buboy was more than persuasive, as while the four decades may have passed, the firsthand accounts by personages and personalities who were friends of, or mentored by, Leo Virata, would provide valuable material for the book’s realization, and had to be “harvested” and collated.
For Buboy, this was the best avenue for his own children and grandchildren to understand and appreciate what Leo Virata represented and why, to this day, he is admired as one of the most brilliant economist and diplomat this nation has had in its service. It was about reminding the future generations of a time when public service was imbued with integrity, dedication, and selfless commitment.
Published for limited circulation, the book, “O, Ilaw: The Life & Legacy of Leonides S. Virata,” had a hybrid launch on Oct. 28, 2021 (birthday of Leo’s youngest grandchild Alonzo C. Virata). The affair was hosted by the DBP, and as DBP President Manny Herbosa enthused, there were several serendipitous reasons why this just had to be.
When he was informed by Buboy Virata of the forthcoming book and how they would be sending copies for the DBP, Manny Herbosa seized the opportunity to turn the publication of the book into something connected to the forthcoming 75th Anniversary of the DBP, happening in January 2022.
Smiling, Manny Herbosa mentioned that beyond this upcoming 75th DBP milestone, Manny and Leo Virata shared the same birthday, that he and Buboy were classmates at Wharton, and that putting together all of the above, it would seem that it was “written in the stars” that DBP should host the book launch, and make this biography of their 1970-1976 chairman, one of the events leading to the January 75th Anniversary.
Socially distanced and with a very limited number of persons attending the physical event, the launch was hosted by Leo Virata’s grandsons, Buster and Alonzo Virata. His granddaughter resides in New York City. In the physical event, it was DBP President Manny Herbosa, former Prime Minister and Leo’s nephew Cesar Virata, and son Buboy Virata who tendered speeches.
Via Zoom, we watched Manny Zamora talk about his experiences working with and his deep friendship with Leo Virata. This was especially exhilarating, as it wasn’t delivered like a speech or prepared statement but culled from an interview with Mr. Zamora, and it was just him reminiscing, talking about how brilliant a mind was Leo Virata, and how Mr. Zamora would always consider Mr. Virata to be his mentor, and “idol.”
And by far the most touching moment, was how Buboy Virata closed his speech with a poem his late sister, Vanna, had written when she was only 16, right after their father had passed away. It was a beautiful moment, as while formal and dignified a launch, it also made the event something very personal and intimate that all in attendance, whether in person or via Zoom shared in.