Wee Cho Yaw, the former CEO and president of Singapore lender UOB, passed away at the age of 95 in Singapore.
Mr. Wee, who oversaw UOB Group for more than 60 times before retiring from the table in 2018, is one of Southeast Asia’s most prosperous traders.
Additionally, he served as the group’s chair.
Dr. Wee Cho Yaw, Chairman Emeritus and Adviser to the UOB Group, passed away at the age of 95 on Saturday, February 3, according to a statement released by the organization.
Creative businessman, well-known entrepreneur, and community pillar Dr. Wee played a crucial role in UOB’s rise to become the top bank in Asia.
In the midst of the Sino-Japanese War, Mr. Wee, who was born in Kinmen in 1930, immigrated to Singapore as a young child.
He joined the board of United Chinese Bank, which his father and nbsp Wee Kheng Chiang co-founded in 1935, as the youngest chairman at the age of 28.
It was later renamed United Overseas Bank ( UOB), and under Mr. Wee’s direction, it rose to the third-largest bank by market cap in Singapore.
The former banker, one of Singapore’s wealthiest people, frequently appears on Forbes ‘ record of the wealthy.  ,
With a net worth of US$ 7.2 billion, he was seventh on the Forbes list of Singapore’s 50th richest people in 2023.  ,
The latest CEO of UOB is Wee Ee Cheong, the eldest of five children.  ,
Mr. Wee Ee Cheong said,” My father has left an indelible mark in Singapore and the area.
He has inspired me in all facets of my existence, in every way. He will leave us at UOB with a reputation of honor, business, unification, and determination, despite the fact that much will be said about his business expertise and dealmaking.
The effect of my dad and his principles will experience at UOB, whether it be careful consideration for the long term, the value of developing close relationships, acting morally, or lending a helping hand to those in need.
The memorial service will take place on Feb 9.
The late Mr. Wee made more than just economic efforts to Singapore.
From 1972 to 2010, he served as the head of the Hokkien Huay Kuan, one of Singapore’s largest dynasty organizations. Additionally, he served as the founding president of the Singapore Federation of Chinese Clan Associations ( SFCCA ), a umbrella organization for regional Chinese clan associations.
He played a key role in the creation of the Chinese Development Assistance Council ( CDAC ), which was established in 1992 to assist less fortunate Chinese families and academically underperforming students, while serving as the SFCCA’s then-president.
In his talk commemorating the 20th anniversary of the CDAC, Prime Minister Lee Hsien Loong referred to Mr. Wee as a “prime movers” behind the non-profit self-help organization.  ,
He oversaw the Fund Raising Committee and made generous investment fund contributions, which resulted in more than S$ 10 million being raised. The CDAC-SFCCA Hardship Assistance Fund, the Bursary Schemes, and many others were all introduced with his support, according to Mr. Lee in 2012.
Mr. Wee was given the opportunity to join the newly established National University of Singapore ( NUS) as a council member following the merger of Nanyang University and the University in Singapore in 1980.  ,
Eventually, in 2004, he was appointed pro-chancellor of the Nanyang Technological University (NTU).  ,
For his accomplishments, Mr. Wee had received an honorary physician of letters from both universities.