Lee Seng Wee

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Lee Seng Wee
Born (1930-04-04)April 4, 1930
Singapore
Died August 7, 2015(2015-08-07) (aged 85)
Singapore
Cause of death Head injury from falling
Residence Singapore
Nationality Singaporean
Alma mater University of Toronto,
University of Western Ontario
Occupation Businessman
Organization Oversea-Chinese Banking Corporation,
Lee Foundation
Children Lee Tih Shih (son)
Parent(s) Lee Kong Chian (father)
Tan Ai Leh (mother)
Relatives Tan Kah Kee (maternal grandfather)
Lee Seng Gee (brother)
Lee Seng Tee (brother)

Lee Seng Wee, DUBC (simplified Chinese: 李成伟; traditional Chinese: 李成偉; pinyin: Lǐ Chéngwěi; Pe̍h-ōe-jī: Lí Sîng-uí; April 4, 1930 – August 7, 2015) was a Singaporean banker and businessman.

Early life[edit]

Lee was the third son of rubber tycoon Lee Kong Chian, and grandson of Singaporean pioneer Tan Kah Kee. He was educated at the Anglo-Chinese School in Singapore[1] and subsequently studied engineering at the University of Toronto. He graduated first in his MBA class from the University of Western Ontario.[2]

Career[edit]

Lee joined the Lee Rubber Company after returning to Singapore and rose to the position of vice-chairman. He then became a director of Southeast Asia's second-largest bank, Oversea-Chinese Banking Corporation (OCBC) from 1966 until 2016, and Chairman from 1995 to 2003.[3] He orchestrated a S$2.4 billion takeover bid for Singapore's then-fifth largest bank, Keppel Capital Holdings in June 2001.[4] In 2003, Lee stepped down as chairman and moved to a non-executive position, but continued to guide the strategic direction of the bank. Major investments and acquisitions during his long tenure include OCBC-NISP in Indonesia, OCBC China Bank, OCBC-Wing Hang in Hong Kong; the private banking business of ING Asia Bank, majority control of Great Eastern Life Insurance and a 20 percent stake in Bank of Ningbo in China. The net profit after tax for OCBC Group was almost S$ 4 billion for 2015.

In addition to his role in OCBC, Lee was also a director of several companies, including Lee Rubber Group Companies and Lee Foundation.[5] He served as a board member of the Government of Singapore Investment Corporation and on the Council of Presidential Advisors, Singapore. He was conferred the Distinguished Service Order in 2001. In 2006, he received the Woodrow Wilson Award in New York for Singapore.

Death[edit]

On August 7, 2015, at the age of 85, Lee died of complications arising from a head injury sustained during a fall at home. Lee leaves behind a wife and three children and six grandchildren.[6]

References[edit]

  1. ^ "In Memoriam - Mr Lee Seng Wee". www.blueskiescom.com. Retrieved 2017-08-29. 
  2. ^ Suryadinata, Leo (2012). Southeast Asian Personalities of Chinese Descent: A Biographical Dictionary, Volume I & II. Institute of Southeast Asian Studies. p. 541. ISBN 9789814345217. 
  3. ^ "Former OCBC Bank chairman Lee Seng Wee dies aged 85". Channel NewsAsia. Retrieved 2017-08-29. 
  4. ^ "Lee Seng Wee". Forbes. Retrieved 2017-08-29. 
  5. ^ U-Wen, Lee. "Former OCBC chairman Lee Seng Wee dies, aged 85". The Business Times. Retrieved 2017-08-29. 
  6. ^ "Former OCBC chairman Lee Seng Wee dies aged 85, Banking News & Top Stories - The Straits Times". 2015-08-10. Archived from the original on 2015-08-10. Retrieved 2017-08-29.