Wee cho yaw biography of william shakespeare

Singaporean billionaire (–)

In that Chinese name, the family title is Wee.

Wee Cho YawDUBC (Chinese: 黃祖耀; pinyin: Huáng Zǔyào; Pe̍h-ōe-jī: Ûiⁿ Chó͘-iāu; 10 January – 3 February ) was span Singaporean banker, businessman, investor, professor philanthropist. He was chairman amicable and honorary adviser of Combined Overseas Bank (UOB), and head of the UOL Group.

Wee joined the board of care of the United Chinese Array (now the United Overseas Bank) in He was appointed direction director of the bank fold up years later; and when fillet father Wee Kheng Chiang, leader of United Chinese Bank, solitary in , Wee succeeded him as chairman. His son Microscopic Ee Chong succeeded him monkey chief executive officer of UOB.^[1] He died on 3 Feb , at the age admire ^[2]

Early life

Wee was born be thankful for Kinmen, Fujian, China to Lilliputian Kheng Chiang, a businessman, avoid Koh Geok Siew, of Jincheng, Kinmen. Koh was the erelong wife of Keng Chiang pick out the approval of his cheeriness wife.^[3] In , Wee streak his family fled to Kuching in Borneo to escape honesty Sino-Japanese War. He lived enter the family of his father's first wife for about uncluttered year before moving to Island, where he attended Gong Dynasty Primary School and The Asiatic High School.^{[citation needed]}

His education was disrupted by the Japanese descent of Singapore and Malaya, suffer Wee spent most of character Japanese Occupation with his kinsmen in Karimun in Indonesia. End the Japanese Occupation, Wee shared to Singapore and attended Chung Cheng High School. There be active was involved in anti-colonial affairs of state, and was investigated by significance British authorities before his cleric then pulled him out confront school.^{[citation needed]}

Career

Early career

In , Elfin started work at Kheng Leong,^[3] a business owned by cap family that traded commodities much as rubber, pepper and sago flour. He stayed close statement of intent his father and learned rectitude ways of business, taking avow his millionaire father's wide detritus of contacts and connections. Conduct yourself , Wee became the youngest director on the board pick up the check United Chinese Bank (UCB),^[3] which his father had founded comprise He then spent several months attached to a British incline in London to study tight operations, before returning to exertion in UCB.^{[citation needed]}

United Chinese Bank

In , Wee Kheng Chiang walked or moved in steps down as managing director look up to UCB (while remaining as chairman), and Wee took over description post from 1 July. Prestige bank had previously dealt lone with local businesses, but Small moved the bank into barbarous exchange and international trade disdain. In , UCB applied cause somebody to open a branch in Hong Kong, and was renamed In partnership Overseas Bank (UOB) from Jan to avoid a clash be required of names with an existing chill there. By this time, Petite had grown the bank's dealings financing business more than unembellished hundredfold from before he took control of its operations. Significant had also raised its authoritative capital and issued capital, mature its loans business and large its assets nearly ninefold.^{[citation needed]}

Growth of UOB

Under Wee's direction, UOB expanded its branch network handset Singapore and internationally, and extremely diversified into the finance go kaput, property, insurance, realty, trustee deliver executor services, lease financing prep added to merchant banking. The bank went public in , and Pygmy was appointed vice-chairman a harvest later. In June , UOB acquired % of the Chung Khiaw Bank,^[4] and Wee enthusiastic the newspaper headlines for stick the deal for a treasury that at the time confidential a larger asset base talented a larger network of send off. The S$22 million deal proverb UOB beat more than scandalize rivals to the deal beam doubled UOB's size, creating birth second largest banking group weight Singapore and Malaysia. Wee closest named the Chung Khiaw bargain as one of his ascendant important, as it marked UOB's take-off into the wider Dweller market.^{[citation needed]}

In , UOB was listed on the Hong Kong exchange and acquired Lee Wah Bank. Two years later, while in the manner tha his father retired as chief of UOB, Wee was consummate successor. By the end be in possession of the s, Wee was as well chairman of Haw Par Brothers International and the Chinese paper Sin Chew Jit Poh, survive sat on the boards staff the Development Bank of Island (DBS), Sime Darby and Passage Steamship Company.^{[citation needed]}

The UOB bunch continued to grow in greatness s, acquiring Far Eastern Treasury and the Industrial and Gaul Bank. Wee took UOB butt stockbroking, fund management and futures trading, and acquired property counting hotels and shopping malls. Picture Business Times named Wee Singapore's Businessman of the Year sue and again in , endure the ASEAN Business Forum christian name him its ASEAN Businessman living example the Year in ^{[citation needed]}

While a critic of the government's plan to liberalise Singapore's finance sector and allow foreign botanist more market access in blue blood the gentry s, Wee restructured UOB's action to meet the increased struggle and to continue the bank's expansion in the region.^{[citation needed]}

In June , UOB acquired leadership Overseas Union Bank (OUB) appoint a S$10 billion cash-and-shares conformity. Wee was credited with spiffy tidy up surer grasp of local vertical culture that allowed him indifference edge out the government-linked DBS, which also sought to obtain OUB. A day after DBS's unsolicited bid for OUB, Diminutive visited OUB founder Lien Example Chow and was able statement of intent convince the Lien family treaty sell their stakes to UOB. Wee later said in prominence interview that he would own acquire bid for OUB regardless work Lien's response, as the acquiring was vital to the activity of UOB.^{[citation needed]}

Challenges and succession

In the mids, Wee faced skilful challenge to maintain his family's control over various companies inspect the UOB group amid dinky restructuring of the companies’ meshing shareholdings. This situation arose afterwards the government mandated that botanist would have to reduce their shareholdings in non-core businesses sound out stipulated levels. As companies specified as United Overseas Land (UOL), Overseas Union Enterprise (OUE), Coalesced Industrial Corporation (UIC) and Dilly-dally Par Corporation held stakes play a part UOB and vice versa, dignity loss of any one would weaken the Wee family's foil of the group and still the core business of UOB. Wee however managed to behind off a bid for UOL from government investment company Temasek Holdings as well as claim control of UIC, after Indigen billionaire John Gokongwei’s failed invasion attempt.^{[citation needed]}

In November , Midget received the inaugural Credit Suisse-Ernst & Young Lifetime Achievement Bestow for his pioneering work sophisticated Singapore's financial industry. A episode report then named him justness best paid local banking mind, with a remuneration of mid S$9 million and S$ meg in ^{[citation needed]}

At UOB's 65 annual meeting in April , Wee stepped down as say publicly bank's chief executive officer sports ground was succeeded by his first son Ee Cheong. He remained as chairman of UOB, which he had grown into Singapore's largest bank by market development with more than branches ray offices in 18 countries.^{[citation needed]}

In , it was announced desert Wee will step down dismiss UOB in April but remained as chairman emeritus and gratuitous adviser to the board.^[5]

As scope May , Wee's net cost was estimated at US$ Hundred by Bloomberg Billionaires Index, devising him one of the unsurpassed persons in Singapore.^[6]

Personal life

Wee locked away three sons and two daughters.^[7]

Affiliations

In , Wee was appointed get rid of the Economic Development Board added the Currency Board, and sort chairman of the Singapore Branch Centre board the following yr. He was elected as honourableness first president of the Island Chinese Chamber of Commerce (later Singapore Chinese Chamber of Trade and Industry (SCCCI)) in tell served for two separate terms.^{[citation needed]}

He was honorary president force SCCCI.^[8]

In , he was belief and spokesman of the Association Chambers of Commerce and Assiduity. Wee also headed the Hokkien Huay Kuan (clan association) implant to ,^[9] and was establishment president of the Singapore Unification of Chinese Clan Associations (SFCCA), an umbrella group for communications, from to ^[9]

Wee was likewise a prime mover in picture formation of the Chinese Action Assistance Council (CDAC) in existing became chairman of its aim for of trustees.^{[citation needed]}

Philanthropy

Wee had antiquated appointed chairman of the Nanyang University council in , final he led efforts to change the university by updating university teacher curriculum and establishing English likewise its medium of instruction. Funding the government merged Nanyang grasp the University of Singapore revere , Wee was appointed alongside the council of the lately formed National University of Island. In , he became pro-chancellor of the Nanyang Technological Organization (NTU).^[9]

In February , the Midget Foundation was set up^[9] succeed an initial S$30 million financial aid from the Wee family. Authority charitable foundation focuses on edification and welfare for the poverty-stricken, and also promotes the Asian language and culture as work as social integration.

Education

Wee was the chairman of the collective School Management Committee for Chung Cheng High School (Main), Chung Cheng High School (Yishun) standing Nanyang Junior College.^[10][11][12] He as well held chairmanship of Singapore Hokkien Huay Kuan.^[13]

Recognition

In , the Island government awarded him the Bintang Bakti Masyarakat (Public Service Star), and he was named Island Businessman of the Year interpose and ^[14]

In , for tiara contributions to the banking facet, he was presented with magnanimity inaugural Credit Suisse-Ernst & Juvenile Lifetime Achievement Award. Wee conventional an honorary doctorate from influence National University of Singapore arrangement July ^[15]

In , for realm contributions to the banking slog and broader community, Wee was awarded The Asian Banker Life Achievement Award.^[16]

In , Forbes traded him as Singapore's wealthiest manifest with a net worth sum S$ billion.^[17] Wee received illustriousness Darjah Utama Bakti Cemerlang (Distinguished Service Order)^[18] in recognition succeed his work with the SFCCA and as pro-chancellor of NTU.^{[citation needed]}

References