KUALA LUMPUR, Feb 3 — Mr Wee Kyaw Yeow, former chairman and chief executive officer of Singaporean bank UOB, passed away today at the age of 95.
According to a CNA report, when UOB officially announced Mr Wee’s passing, it described him as a “visionary banker, prominent businessman and pillar of the community” and said that “UOB is proud to have “He is an extremely important person in developing the bank as a leading bank in the world.”
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Mr Wee led UOB Group for more than 60 years until his retirement in 2018, where he remained as honorary chairman and honorary advisor.
UOB is Singapore’s third largest bank.
He was also chairman of property development company UOL Group.
He is touted to be one of Singapore’s richest people and regularly appears on Forbes magazine’s list of richest people.
His net worth was $7.1 billion, ranking him 8th in the world. forbes List of Singapore’s 50 richest people in 2023.
Mr. Wee became a director of United Chinese Bank at the age of 28.
The bank, later renamed United Overseas Bank (UOB), was co-founded by his father, Wee Cheng Cheng, in 1935.
Under Cho Yeo’s leadership, the bank expanded from a single branch to a regional bank with branches in 19 countries and territories.
Mr Cho Yeo’s eldest son and current UOB vice-chairman and CEO Wee Yee Cheong said his father left an indelible mark on Singapore and the region.
“He was a source of inspiration to me in every aspect of my life. Much will be said about his business acumen and dealings, but the legacy he left us is “It will be the values of honor, enterprising spirit, unity and dedication. UOB,” he was quoted as saying.
He said his father’s influence and values of always thinking long-term, the importance of deep relationships and doing the right thing to help those in need will continue at UOB.