The late banking tycoon was known as a visionary business leader and philanthropist
Former United Overseas Bank (UOB) chairman and CEO Wee Cho Yaw died on February 3 at the age of 95. In Prime Minister Lee Hsien Loong’s tribute posted on Instagram, he recognised Wee as a “titan of Singapore’s banking industry”.
Wee had spent 60 years at the helm of the UOB board before retiring in 2018. During his time at UOB, the late banking tycoon had steered the bank to many accomplishments, including expanding its network from 75 to over 500 branches and offices worldwide; and helping UOB to become the first Singaporean bank to open a Vietnam office in 1992. President Tharman Shanmugaratnam also shared in his Instagram post how Wee had an “insatiable appetite for work and a shrewd eye for opportunities”.
Apart from his accomplishments in the banking industry, Wee also made significant contributions to the community, including setting up the Wee Foundation to help the underprivileged. Various educational institutes also paid tribute to Wee, including Nanyang Technological University’s (NTU) president and distinguished university professor Ho Teck Hua who wrote: “Those who have had the opportunity to interact with him remember him as a generous man who was always willing to hear out young people and give them advice.”
Below, we share some of Wee’s philanthropic contributions that continue to benefit the community.
Read more: SG Enable CEO Ku Geok Boon on building a more inclusive Singapore
1. He set up the Wee Foundation
The Wee Foundation was set up in 2009 with an initial SG$30 million endowment from the Wee family. The charitable establishment promoted the Chinese language and culture in Singapore and provided education and welfare for the underprivileged.