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UOB chief says 'why not' let an outsider succeed him

Bloomberg
Bloomberg5/31/2019 3:34 PM GMT+08  • 3 min read
UOB chief says 'why not' let an outsider succeed him
SINGAPORE (May 31): United Overseas Bank’s chief executive officer said he is comfortable going outside his family for a successor to run the lender his grandfather founded more than eight decades ago.
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SINGAPORE (May 31): United Overseas Bank’s chief executive officer said he is comfortable going outside his family for a successor to run the lender his grandfather founded more than eight decades ago.

"I will always, as I said, take in people with the right values," Wee Ee Cheong, 66, who took the reins from his father in 2007, said in an interview. "If they can do the job, why not?"

UOB is the only Singapore bank that's still run by a family after OCBC Bank and others chose outsiders as their CEO or merged. Under Wee's billionaire father, UOB emerged from the Asian financial crisis of the late 1990s strong enough to benefit from later consolidation that left the country with three major banks.

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