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Remembering Dr Wee Cho Yaw
Dr Wee Cho Yaw, Chairman Emeritus and Honorary Adviser to the UOB Group, passed away on 3 February 2024 at the age of 95. Dr Wee, a visionary banker, celebrated businessman and community pillar, was pivotal to UOB's development into a leading bank in Asia.
In the more than five decades under his leadership, UOB grew from a one-branch bank to a regional bank with more than 500 branches and offices in 19 countries and territories. Through his unwavering focus on prudent, disciplined and sustainable growth, the Group’s assets increased from $2.8 billion in 1974 to more than $253 billion at the time of his retirement as Chairman in 2013.
Dr Wee believed in the importance of education and giving back to the community. He was founding president of the Singapore Federation of Chinese Clan Associations from 1985 to 2010. He also headed the Singapore Hokkien Huay Kuan from 1972 to 2010. He was a firm believer in the value of education and contributed to schools and various education initiatives. Encouraged by his commitment to the community, UOB also set up the $50 million Wee Cho Yaw Future Leaders Award scholarship programme to provide financial assistance to students from disadvantaged backgrounds.
Dr Wee’s passing was met by an outpouring of tributes. Thousands of people paid their respects to Dr Wee at his wake. These include employees, clients, business associates, and leaders from the community, government and businesses.
On 7 February 2024, hundreds of UOB employees and the public gathered at the UOB Plaza Atrium to bid a final farewell to Dr Wee, as his cortege arrived for a brief memorial. As a mark of respect, the attendees observed a minute of silence during the memorial.
Dr Wee received many accolades over his career. They include the Distinguished Service Order, one of Singapore's highest National Day Awards, ASEAN Business Advisory Council Legacy Award for Singapore and Honorary Degrees of Doctor of Letters from the National University of Singapore and Nanyang Technological University.
“Dr Wee was one of Singapore’s legendary entrepreneurs who made immense contributions to the banking industry and beyond. Under his leadership, UOB expanded greatly, both in scale and scope. He also guided UOB through several international and regional financial and economic crises. Throughout his 60 years at the Bank, Dr Wee applied his qualities in full concentration for the benefit of the UOB Group. He also instilled in colleagues the importance of possessing the right attitudes and aptitudes to build the business and to sustain its growth. Dr Wee will always be remembered and an integral part of UOB.”
Mr Wong Kan Seng
Chairman
Dr Wee in his office in the early days of his career.
Singapore’s first Prime Minister, Mr Lee Kuan Yew (right) with Dr Wee at the opening ceremony of the new UOB Plaza 1 on the Bank’s 60th anniversary in 1995
Dr Wee (right) with his father, Datuk Wee Kheng Chiang (middle), founder of UOB, in the 1970s.
Dr Wee with ex-OUB Chairman, Mr Lee Hee Seng (right), at the media conference announcing UOB’s acquisition of OUB in 2001.
Dr Wee at the official opening of UOB’s first branch in mainland China in Xiamen in 1985.
On 7 February 2024, hundreds of UOB employees and the public gathered at the UOB Plaza Atrium to bid a final farewell to Dr Wee, as his cortege arrived for a brief memorial.
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