Wee Cho Yaw was born on January 10, 1929 in Singapore, Singapore, Singapore. Wee Cho Yaw is chairman emeritus of United Overseas Bank, Singapore's third-largest lender.
UOB was cofounded by his father Wee Khiang Cheng in 1935 as United Chinese Bank.
In 2013, Wee stepped down as the bank's chairman after close to 40 years at the helm.
The family's property arm Kheng Leong owns 45 apartments in the Nassim, a luxury condo, acquired for $290 million
Wee Cho Yaw is a member of Finance
Does Wee Cho Yaw Dead or Alive?
As per our current Database, Wee Cho Yaw is still alive (as per Wikipedia, Last update: May 10, 2020).
🎂 Wee Cho Yaw - Age, Bio, Faces and Birthday
Currently, Wee Cho Yaw is 95 years, 10 months and 11 days old. Wee Cho Yaw will celebrate 96rd birthday on a Friday 10th of January 2025. Below we countdown to Wee Cho Yaw upcoming birthday.
Popular As |
Wee Cho Yaw |
Occupation |
Finance |
Age |
95 years old |
Zodiac Sign |
Aquarius |
Born |
January 10, 1929 (Singapore, Singapore, Singapore) |
Birthday |
January 10 |
Town/City |
Singapore, Singapore, Singapore |
Nationality |
Singapore |
🌙 Zodiac
Wee Cho Yaw’s zodiac sign is Aquarius. According to astrologers, the presence of Aries always marks the beginning of something energetic and turbulent. They are continuously looking for dynamic, speed and competition, always being the first in everything - from work to social gatherings. Thanks to its ruling planet Mars and the fact it belongs to the element of Fire (just like Leo and Sagittarius), Aries is one of the most active zodiac signs. It is in their nature to take action, sometimes before they think about it well.
🌙 Chinese Zodiac Signs
Wee Cho Yaw was born in the Year of the Snake. Those born under the Chinese Zodiac sign of the Snake are seductive, gregarious, introverted, generous, charming, good with money, analytical, insecure, jealous, slightly dangerous, smart, they rely on gut feelings, are hard-working and intelligent. Compatible with Rooster or Ox.
Biography/Timeline
1937
His mother was the second wife of Sarawak-based businessman Wee Kheng Chiang and in 1937, Wee and his family fled to Kuching in Borneo to escape the Sino-Japanese War. He lived with the family of his father’s first wife for about a year before moving to Singapore, where he attended Gong Shang Primary School and The Chinese High School.
1949
In 1949, Wee started work at Kheng Leong, a Business owned by his family that traded commodities such as rubber, pepper and sago flour. He stayed close to his Father and learned the ways of Business, taking on his millionaire father’s wide range of contacts and connections. In 1958, Wee became the youngest Director on the board of United Chinese Bank (UCB), which his Father had founded in 1935. He then spent several months attached to a British bank in London to study its operations, before returning to work in UCB.
1958
Wee joined the board of Directors of the United Chinese Bank (now the United Overseas Bank) in 1958. He was appointed managing Director of the bank two years later, and when his Father Wee Kheng Chiang, founder of United Chinese Bank, retired in 1974, Wee succeeded him as chairman of the Bank. His son Wee Ee Chong succeeded him as chief executive officer of UOB.
1960
In 1960, Wee Kheng Chiang stepped down as managing Director of UCB (while remaining as chairman), and Wee took over the post from 1 July. The bank had previously dealt only with local businesses, but Wee moved the bank into foreign exchange and international trade financing. In 1964 UCB applied to open a branch in Hong Kong, and was renamed United Overseas Bank (UOB) from January 1965 to avoid a clash of names with an existing bank there. By this time, Wee had grown the bank’s trade financing Business more than a hundred-fold from before he took control of its operations. He had also raised its authorised capital and issued capital, grown its loans Business and enlarged its assets nearly nine-fold.
1969
In 1969, Wee was appointed to the Economic Development Board and the Currency Board, and as chairman of the Singapore Science Centre board the following year. He was also elected as the first President of the Singapore Chinese Chamber of Commerce (later Singapore Chinese Chamber of Commerce and Industry (SCCCI)) in 1971 and served for two separate terms.
1970
Wee had been appointed chairman of the Nanyang University council in 1970, and he led efforts to modernise the university by updating its curriculum and establishing English as its medium of instruction. After the government merged Nanyang with the University of Singapore in 1980, Wee was appointed to the council of the newly formed National University of Singapore. In 2004, he became pro-chancellor of the Nanyang Technological University (NTU).
1971
In 1971, the Singapore government recognised Wee's public Service by awarding him the Bintang Masyarakat Bakti (Public Service Star), and Wee was also named Singapore Businessman of the Year for his outstanding corporate success in 1990 and 2001.
1972
In 1972, he was head and spokesman of the ASEAN Chambers of Commerce and Industry. Wee also headed the Hokkien Huay Kuan (clan association) from 1972 to 2010, and was founding President of the Singapore Federation of Chinese Clan Associations (SFCCA), an umbrella group for 190 associations, from 1985 to 2010.
1980
The UOB group continued to grow in the 1980s, acquiring Far Eastern Bank and the Industrial and Commercial Bank. Wee took UOB into stockbroking, fund management and futures trading, and acquired property including hotels and shopping malls. The Business Times named Wee Singapore’s Businessman of the Year for 1990 and again in 2001, and the ASEAN Business Forum named him its ASEAN Businessman of the Year in 1995.
1992
Wee was also a prime mover in the formation of the Chinese Development Assistance Council (CDAC) in 1992 and became chairman of its board of trustees.
2000
In the mid-2000s, Wee faced a challenge to maintain his family’s control over various companies in the UOB group amid a restructuring of the companies’ interlocking shareholdings. This situation arose after the government mandated that banks would have to reduce their shareholdings in non-core businesses to stipulated levels. As companies such as United Overseas Land (UOL), Overseas Union Enterprise (OUE), United Industrial Corporation (UIC) and Haw Par Corporation held stakes in UOB and vice versa, the loss of any one would weaken the Wee family’s control of the group and even the core Business of UOB. Wee however managed to fend off a bid for UOL from government investment company Temasek Holdings as well as maintain control of UIC, after Filipino Billionaire John Gokongwei’s failed takeover attempt.
2001
In June 2001, UOB acquired the Overseas Union Bank (OUB) in a S$10 billion cash-and-shares deal. Wee was credited with a surer grasp of local Business culture that allowed him to edge out the government-linked DBS, which also sought to acquire OUB. A day after DBS’s unsolicited bid for OUB, Wee visited OUB founder Lien Ying Chow and was able to convince the Lien family to sell their stakes to UOB. Wee later said in an interview that he would have bid for OUB regardless of Lien’s response, as the acquisition was vital to the survival of UOB.
2006
In 2006, for his contributions to the banking sector, He was presented with the inaugural Credit Suisse-Ernst & Young Lifetime Achievement Award, which honours the accomplishments of Singapore's pioneer entrepreneurs. Wee was conferred an honorary doctorate by the National University of Singapore in July 2008.
2009
In February 2009, the Wee Foundation was set up with an initial S$30 million endowment from the Wee family. The charitable foundation focuses on education and welfare for the under-privileged, and also promotes the Chinese language and culture as well as social integration. In August 2011, Wee received the Darjah Utama Bakti Cemerlang (Distinguished Service Order) in recognition of his work with the SFCCA and as pro-chancellor of NTU.
2011
In 2011, Forbes listed him as Singapore’s wealthiest individual with a net worth of S$4.2 billion.
2019
At UOB’s 65th annual meeting in April 2007, Wee stepped down as the bank’s chief executive officer and was succeeded by his eldest son Ee Cheong. He remained as chairman of UOB, which he had grown into Singapore’s largest bank by market capitalisation with more than 500 branches and offices in 18 countries.
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