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Wee Cho Yaw to retire from UOB

United Overseas Bank veteran Wee Cho Yaw is retiring after 60 years with the company.

Mr Wee, who turns 89 in January, will step down from the UOB board at the annual shareholders' meeting in April, the bank said yesterday.

He will relinquish all his board responsibilities but retain his chairman emeritus title, and will also be appointed honorary adviser to the board, UOB said.

The board described Mr Wee as one of Singapore's legendary entrepreneurs who has contributed greatly to the development of the industry.

Mr Wee, who was UOB chairman and chief executive from 1974 to 2007, owns more than 18 per cent of the company, according to a 2016 annual report.

UOB also announced yesterday that it has nominated former deputy prime minister Wong Kan Seng to succeed independent non-executive chairman Hsieh Fu Hua, who will retire next year.

Mr Hsieh, 67, will have served six years on the board when he steps down on Feb 14. - THE STRAITS TIMES

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