Wee Cho Yaw is Singapore’s veteran banker and Chairman emeritus of United Overseas Bank. His father had co-founded the bank in 1935. Now, this bank is the third lender of Singapore.
Since the economy growth was slow and the loans were bad, the revenues of United Overseas Bank dropped (2016).
Personal Life of Wee
Wee Cho Yaw was born on 10th January 1929 in Kinmen to Wee Kheng Chiang and his second wife. Wee Cho Yaw has many siblings namely Wee Bee Ngo, Wee Hood Teck, Wee Cho Bian, Wee Siok Hua, Wee Hian Teck, Wee Bee Siok, Wee Bee Hoon. Their father, Wee Kheng Chiang was a Sarawak-based businessman. In 1937, the family fled to Kuching, Borneo, to escape Sino-Japanese War. Wee Cho Yaw was with the family of father’s first wife for one year before moving to Singapore.
Early Life and Education
Wee attended Gong Shang Primary School and Chinese High School but he his education was interrupted. Japanese invaded Singapore and Malaya while Wee and his family lived in Karimun, Indonesia. Wee returned to Singapore to attend Chung Cheng High School. He was involved in anti-colonial politics so British authorities investigated. His father removed him from school. In 1958, Wee was in the board of directors of the United Chinese Bank.
His father retired in 1974 when Wee succeeded him as the chairman of the Bank. He became the chairman of United Overseas Bank and United Industrial Corporation in Singapore. Wee’s son Wee Ee Chong succeeded him as chief executive officer of UOB. Wee Cho Yaw married Chuang Yong Eng and they have five sons and two daughters. Their children are Wee Wei Ling, Wee Ee Chong, Ee Lim Wee, Wee Wei Chi and Ee-chao Wee. Wee Wei Chi is Wee was Cho Yaw’s eldest daughter.
Family of Wee
Father of Wee
Wee Kheng Chiang was born on 22nd July 1890 in Kuching, Malaysia and died in 1978, Kuching, Malaysia. His parents were Wee Tee Yah (father) and Song Kim Keow (mother). He had citizenship of Malaysian (1963-1978) and British (1890-1963). He was a Singaporean businessman. He had founded United Overseas Bank known earlier as United Chinese Bank. His first wife was Ong Siew Eng with whom he had Wee Siok Hua, Wee Hian Teck, Puan Sri Wee Bee Siok, Wee Hood Teck and Wee Cho Yaw. With his second wife, he had Wee Cho Yaw. His grandchildren included Ee-chao Wee, Wee Wei Ling, Wee Ee Chong, Ee Lim Wee and Wee Wei Chi.
Brothers of Wee
Wee Hood Teck was Wee Cho Yaw’s brother. His parents were Wee Kheng Chiang and Wee Cho Yaw. His nephews were Wee Ee Chong, Ee-chao Wee and Ee Lim Wee. His nieces were Wee Wei Ling and Wee Wei Chi.
Wee Siok Hua is also another brother of Wee Cho Yaw and his father is Wee Kheng Chiang. His nephews are Ee Lim Wee, Ee-chao Wee and Wee Ee Chong. His nieces are Wee Wei Ling and Wee Wei Chi.
Wee Cho Yaw is net worth of $5.5 Billion and the veteran banker of Singapore. Wee is the Chairman emeritus of United Overseas Bank. In 1935, his father cofounded the bank that currently is the third lender of Singapore. The economic slowdown affected the revenues of United Overseas Bank in 2016. Revenue dropped to 3.5% ($2.2 billion) due to poor loans on oil and gas and shipping sectors. Soon after the Brexit vote, the bank stopped any loans for purchasing properties in London. In January, Wee made a good splurge in Singapore real estate. He bought forty-five apartments in The Nassim, a luxury condo. Wee had bought at 18% discount on the market price for a total of $290 million.