From Fortune:

Billionaire who shaped Singapore’s financial landscape dies aged 95. Wee Cho Yaw, who headed United Overseas Bank Ltd., was key to the acquisition of banks across Southeast Asia, amassing a net worth of $10.4 billion by February 2024. His funeral is on February 7th.

Wee played a key role in consolidating Singapore’s financial sector, acquiring several banks, and served as Chairman of UOL Group Ltd, a major property developer in Singapore. He also rescued a company that produces Tiger Balm.

Born in Kinmen, Wee’s early life was impacted by World War II. He left his father’s commodity and spice trading firm to focus on building a bank, eventually founding the United Chinese Bank and changing its name to UOB.

Wee stepped down as UOB’s chairman in 2013 to take on other roles in the company and to allow the bank’s acquisitive zeal to wane. He expressed pride in all his children for managing or working in family-related businesses, hinting that the fourth generation of the family may take over in the future.



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