WATCH: Singapore's richest banking dynasty is struggling to keep the multi-billion empire in the family. Patrick Winters reports.
Singapore’s Richest Banking Dynasty Grapples With Succession
Late UOB patriarch Wee Cho Yaw’s fortune spanned finance, luxury properties and a traditional heat-rub for sore muscles that’s known throughout Asia.
Building a multibillion-dollar empire is one thing. Keeping it in the family is another matter.
By the time Wee Cho Yaw died earlier this month at 95, his five children had firmly established roles within Singapore’s richest banking dynasty that forged a $10 billion fortune. His eldest son, Wee Ee Cheong, 71, has led United Overseas Bank Ltd. since 2007, while his other two sons and two daughters, all over 60, hold management roles elsewhere in the empire.