1. Kuching-born former UOB chairman Wee Cho Yaw passes away at 95
2. Wee Cho Yaw, Kuching-born former UOB chairman, dies at the age of 95.
**Dr Wee Cho Yaw, United Overseas Bank (UOB) Group Chairman Emeritus and Advisor, Passes Away at 95**
KUCHING (Feb 3): Dr Wee Cho Yaw, the visionary banker, celebrated businessman, and community pillar, passed away today at the age of 95. The news of his demise has left a profound impact on the banking industry and the community he served.
Born in Kuching, Dr Wee played a pivotal role in the development of UOB as a leading bank in Asia. Under his extraordinary leadership for more than five decades, UOB grew from a humble one-branch bank to a regional powerhouse with a strong presence in 19 countries and territories. The bank’s assets soared from US$2.8 billion to an impressive US$253 billion at the time of his retirement as chairman in 2013.
Today, UOB stands among the world’s top banks, with assets that have further grown to an astounding US$516 billion as of September 30, 2023. This remarkable achievement is a testament to Dr Wee’s unwavering focus on prudent, disciplined, and sustainable growth strategies.
Dr Wee’s legend as a consummate dealmaker was forged during his time in Singapore. While his early acquisitions of Chung Khiaw Bank, Lee Wah Bank, and Industrial and Commercial Bank showcased his extraordinary deal-making skills, it was the acquisition of Overseas Union Bank in 2001 that solidified his position as one of Singapore’s foremost businessmen.
His son, UOB Group Deputy Chairman and CEO Wee Ee Cheong, fondly remembers his father as a source of inspiration in all aspects of his life. Dr Wee’s values of honour, enterprise, unity, and commitment will continue to be the guiding principles at UOB. Whether it is long-term strategic planning, nurturing deep relationships, acting with integrity, or lending a helping hand to those in need, Dr Wee’s influence will endure at UOB.
Dr Wee was a strong advocate for education and community engagement. He served as the founding president of the Singapore Federation of Chinese Clan Associations (SFCCA) from 1985 to 2010, and also headed the Hokkien Huay Kuan from 1972 to 2010. To foster closer ties between Singapore and China, he established the Wee Cho Yaw Singapore-China Banking Forum. Additionally, UOB set up the US$50 million Wee Cho Yaw Future Leaders Award scholarship programme in 2015, providing financial assistance to students from disadvantaged backgrounds.
Throughout his career, Dr Wee received numerous accolades for his outstanding contributions. He was awarded the Distinguished Service Order, Singapore’s highest National Day Award, and the Asean Business Advisory Council Legacy Award for Singapore. He also received honorary degrees of Doctors of Letters from the National University of Singapore and Nanyang Technological University.
Dr Wee’s passing marks the end of an era in the banking industry. His remarkable achievements and unwavering commitment to excellence have left an indelible mark on UOB and the community. As we mourn the loss of a visionary leader, we can take solace in knowing that his legacy will continue to inspire future generations..
1. “Kuching-born former UOB chairman Wee Cho Yaw dies at 95”
2. “UOB chairman Wee Cho Yaw passes away at 95”.
