Five things to know about the late S’pore tycoon and former UOB chairman Wee Cho Yaw

The late Mr Wee Cho Yaw (extreme right) was a member of the Nantah Council. Here he is pictured at the 5th Annual General Meeting of Nanyang University on April 30, 1971. PHOTO: ST FILE

SINGAPORE - Billionaire Wee Cho Yaw was known as a successful businessman who helmed UOB Group for more than 60 years, he was also passionate about education and giving back to the society.

Mr Wee, who was chairman emeritus and honorary adviser of UOB, died at the age of 95 on Feb 3.

Here are five things to know about him.

1. He grew UOB into one of the most successful banks in Asia

With Mr Wee at the helm, UOB saw its assets grow from $2.8 billion to more than $253 billion, expanding from 75 branches and offices to more than 500 globally. UOB, Singapore’s third-largest bank, called Mr Wee a “visionary, banker extraordinaire, community pillar and celebrated pioneer”.

PM Lee Hsien Loong and Mr Wee Cho Yaw (far right) at the Association of Banks Singapore annual dinner on June 17, 2004. PHOTO: LIANHE ZAOBAO FILE

He was also lauded by Prime Minister Lee Hsien Loong, who described Mr Wee as a “titan of Singapore’s banking industry”, and said he was instrumental in growing UOB into one of the most successful banks in Singapore and the region.

2. He believed in the importance of education

Mr Wee contributed to schools and various education initiatives, as well as set up scholarship programmes to support students in need.

He oversaw the difficult process of merging Nanyang University and the University of Singapore to form the National University of Singapore, and served on its council until 2000. He later became the pro-chancellor of Nanyang Technological University (NTU) in 2004.

He was also chairman of the joint School Management Committee for Chung Cheng High School (Main), Chung Cheng High School (Yishun) and Nanyang Junior College, and a member of the Mee Toh Foundation.

3. He was heavily involved in promoting Chinese language, culture and values

With deep interests in culture, Mr Wee was also a community leader.

From 1985 to 2010, he was the founding president of the Singapore Federation of Chinese Clan Associations (SFCCA), the umbrella group for local Chinese clan associations here.

Raising a toast to the Singapore Federation of Chinese Clan Associations at its 25th anniversary gala dinner in 2011 were (from left) then Manpower Minister Gan Kim Yong, then federation chairman Chua Thian Poh, the late Minister Mentor Lee Kuan Yew and Mr Wee Cho Yaw. PHOTO: ST FILE

In its statement, SFCCA said that under Mr Wee’s leadership, the federation’s membership grew from 74 organisations to 198. Mr Wee also led the SFCCA to organise the first River Hongbao in 1987 to celebrate Chinese New Year. After 37 editions, it has become an important cultural event in Singapore, the federation said.

Mr Wee also headed the Hokkien Huay Kuan – one of Singapore’s largest clan associations – from 1972 to 2010.

He also established the Chinese Heritage Centre at NTU’s campus. The centre now plays a unique role in promoting Chinese culture and building a local Chinese identity.

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4. He was a family man

Mr Wee had a longstanding habit of gathering together the four generations of his family for dinner every Sunday, Lianhe Zaobao reported. The Chinese-language daily said this was because he believed that family ties grow stronger when a family gets together frequently.

He has three sons and two daughters, including Mr Wee Ee Cheong, who is deputy chairman and chief executive of UOB.

PM Lee at UOB’s 80th anniversary gala dinner at Marina Bay Sands in 2015, flanked by the banking group’s chairman emeritus Wee Cho Yaw (far right) and chief executive Wee Ee Cheong. PHOTO: ST FILE

5. He had a warm personality

Mr Wee was also known to be generous and warm. His son, Mr Wee Ee Cheong, said his father taught him the importance of cultivating deep relationships and giving a helping hand to those in need, among other things.

President Tharman Shanmugaratnam also called the late banker “a tenacious, but very warm personality”.

NTU’s president, Professor Ho Teck Hua, said those who interacted with Mr Wee remember him as a generous man who was always willing to hear out young people and give them his advice.

“Dr Wee’s legacy will live on through the innumerable lives he has touched at NTU and beyond,” he said.

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