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In a press release on Saturday, UOB stated: “It’s with deep disappointment that UOB proclaims the passing of Dr Wee Cho Yaw, Chairman Emeritus and Adviser to the UOB Group on the age of 95.
“Dr Wee, a visionary banker, celebrated businessman and group pillar, was pivotal to UOB’s growth as a number one financial institution in Asia.”
Born in Kinmen in 1930, Wee moved to Singapore as a toddler amid the Sino-Japanese conflict.
On the age of 28, he turned the youngest director on the board of United Chinese language Financial institution which his father Wee Kheng Chiang co-founded in 1935.
It was later renamed United Abroad Financial institution (UOB), and beneath Wee’s management, it turned Singapore’s third-largest financial institution by market cap.
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One in every of Singapore’s wealthiest males, the banking veteran persistently seems on Forbes’ wealthy listing.
In 2023, he was eighth on the Forbes listing of Singapore’s fiftieth richest individuals, with a web value of US$7.2 billion.
Wee’s eldest of 5 kids, Wee Ee Cheong, is the present CEO of UOB.
“My father has left an indelible mark in Singapore and the area,” stated Wee Ee Cheong.
“He has been a supply of inspiration for me in all facets of my life. A lot will probably be stated about his enterprise acumen and deal making however will probably be the values of honour, enterprise, unity and dedication that would be the legacy he leaves us at UOB.
“Whether or not it’s thorough considering for the long-term, the significance of deep relationships, doing the best factor or giving a serving to hand to these in want, the affect of my father and his values will endure at UOB.”
The late Wee’s contributions to Singapore lengthen past enterprise.
He led the Hokkien Huay Kuan – one among Singapore’s largest clan associations – from 1972 to 2010. He was additionally the founding president of the Singapore Federation of Chinese language Clan Associations (SFCCA), the umbrella group for native Chinese language clan associations.
As then-president of the SFCCA, he was instrumental within the formation of the Chinese language Growth Help Council (CDAC), which was based in 1992 to assist much less lucky Chinese language households and academically weaker college students.
“He led the fundraising Committee and donated generously to the Endowment Fund, serving to to lift greater than S$10 million. He helped introduce many CDAC programmes, just like the CDAC-SFCCA Hardship Help Fund, the Bursary Schemes and lots of others,” Lee stated in 2012.
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After Nanyang College was merged with the College of Singapore in 1980, Wee was invited to turn into a council member of the newly shaped Nationwide College of Singapore (NUS).
He later turned pro-chancellor of the Nanyang Technological College (NTU) in 2004.
Each universities had conferred an honorary physician of letters on Wee for his contributions.
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