Lee Seng Wee

$3.00 B

Ranked #224 in World

About Lee Seng Wee

Lee Seng Wee, a prominent Singaporean banker and businessman who passed away in 2015, left an indelible mark on the finance industry. As a key figure at OCBC Bank from 1966 to 2016, and its chairman from 1995 to 2003, Lee played a pivotal role in significant acquisitions including the S$2.4 billion takeover of Keppel Capital Holdings. His leadership saw OCBC's net profit after tax reach nearly S$4 billion in 2015. Educated in engineering and business, Lee's strategic investments expanded OCBC's footprint across Asia. His contributions were recognized with prestigious awards, reflecting his impact on Singapore's financial landscape.

Born

January 01, 1930 in Singapore, Straits Settlements

Died

August 07, 2015 (aged 85)

Source Of Wealth

Banking

Industries

Finance And Investments

Citizenship

Singapore

Education

Bachelor of Arts / Science, University of Toronto; Master of Arts, University of Western Ontario

Children

Parent

Lee Kong Chian (father), Tan Ai Leh (mother)

Lee Seng Wee, a prominent Singaporean banker and businessman, was born in 1930. He was the third son of Lee Kong Chian, a renowned businessman, and the maternal grandson of Tan Kah Kee, a prominent philanthropist and community leader.

Lee Seng Wee: Family

Lee Seng Wee came from a prominent and influential family in Singapore. His father, Lee Kong Chian, was a successful businessman who founded the Lee Rubber Company and made significant contributions to the development of Singapore's economy. His mother, Lee Choon Guan, was the daughter of Tan Kah Kee, a highly respected figure known for his philanthropic efforts and contributions to education and social welfare in Singapore and China.

Lee Seng Wee: Career Highlights

Lee Seng Wee had a distinguished career in the banking and business sectors. After completing his education, he joined the Lee Rubber Company and rose to the position of vice-chairman. He also served as a director of OCBC Bank from 1966 to 2016 and held the position of chairman from 1995 to 2003. During his tenure as chairman, he orchestrated the S$2.4 billion takeover of Keppel Capital Holdings in 2001, a significant move that strengthened OCBC's position in the financial industry.

Lee Seng Wee: Companies

Lee Seng Wee was involved in various companies and organizations throughout his career. He served as a director of the Lee Rubber Group Companies and the Lee Foundation, both of which were established by his father. He was also a board member of GIC, Singapore's sovereign wealth fund, and a member of the Council of Presidential Advisors, Singapore.

Lee Seng Wee: Major Achievements

Lee Seng Wee's leadership and strategic vision contributed to the growth and success of OCBC Bank. During his tenure as chairman, he oversaw major investments and acquisitions that expanded the bank's reach and strengthened its position in the regional financial market. These included the acquisition of OCBC-NISP (Indonesia), OCBC China Bank, OCBC-Wing Hang (Hong Kong), ING Asia Bank's private banking business, majority control of Great Eastern Life Insurance, and a 20% stake in Bank of Ningbo (China).

As a result of these strategic moves, OCBC Group achieved a net profit after tax of almost S$4 billion in 2015.

Lee Seng Wee: Awards & Achievements

Lee Seng Wee's contributions to the banking industry and his dedication to public service were recognized through several prestigious awards. In 2001, he was conferred the Distinguished Service Order (DSO) for his outstanding contributions to Singapore. In 2006, he received the Woodrow Wilson Award in New York for Singapore, an honor bestowed upon individuals who have made significant contributions to international understanding and cooperation.

Lee Seng Wee: Personal Life & Legacy

Lee Seng Wee was known for his dedication to his work and his commitment to the community. He was a respected figure in the business world and was admired for his leadership and integrity. He passed away on 7 August 2015 at the age of 85 due to complications from a head injury sustained in a fall at home. His legacy continues to inspire future generations of business leaders and philanthropists in Singapore.

Lee Seng Wee: Trivia

Lee Seng Wee was an avid golfer and enjoyed playing the sport in his leisure time. He was also known for his passion for classical music and was a supporter of the Singapore Symphony Orchestra.

Wealth History

Timeline

1930

Lee Seng Wee is born in Singapore.

1966

Lee Seng Wee joins the board of directors of OCBC Bank.

1995

Lee Seng Wee becomes chairman of OCBC Bank.

2001

Lee Seng Wee orchestrates the S$2.4 billion takeover of Keppel Capital Holdings.

2003

Lee Seng Wee steps down as chairman of OCBC Bank but continues as a non-executive director.

2006

Lee Seng Wee receives the Woodrow Wilson Award in New York for Singapore.

2015

Lee Seng Wee passes away at the age of 85 due to complications from a head injury sustained in a fall at home.

Lee Seng Wee : FAQs

What is Lee Seng Wee's net worth?

As of 2006, Lee Seng Wee's net worth was $3.00 billion.

What are Lee Seng Wee's main sources of wealth?

Lee Seng Wee's main source of income comes from Banking.

In which industry does Lee Seng Wee primarily operate?

Lee Seng Wee is primarily involved in the Finance And Investments industry.

What is Lee Seng Wee educational background?

Lee Seng Wee holds a Bachelor of Arts / Science from the University of Toronto and a Master of Arts from the University of Western Ontario.

Is Lee Seng Wee dead?

Yes, Lee Seng Wee died on August 07, 2015 (aged 85).

How many children does Lee Seng Wee have?

Lee Seng Wee has 3 children.

Who was Lee Seng Wee and what was his contribution to Singapore's banking sector?

Lee Seng Wee was a prominent Singaporean banker and businessman, known for his role as the director and later chairman of OCBC Bank from 1966 to 2003. He played a pivotal role in the bank's expansion, including the S$2.4 billion takeover of Keppel Capital Holdings in 2001, and major investments in OCBC-NISP (Indonesia), OCBC China Bank, OCBC-Wing Hang (Hong Kong), ING Asia Bank's private banking business, Great Eastern Life Insurance, and a 20% stake in Bank of Ningbo (China).

How did Lee Seng Wee contribute to OCBC Bank's growth during his tenure?

During his tenure at OCBC Bank, Lee Seng Wee oversaw significant growth and expansion through strategic investments and acquisitions. This included taking over Keppel Capital Holdings, expanding into Indonesia, China, and Hong Kong through OCBC-NISP, OCBC China Bank, and OCBC-Wing Hang, acquiring ING Asia Bank's private banking business, gaining majority control of Great Eastern Life Insurance, and purchasing a 20% stake in Bank of Ningbo (China).

What other roles did Lee Seng Wee hold outside of the banking industry?

Besides his banking career, Lee Seng Wee served as a director of Lee Rubber Group Companies and the Lee Foundation. He was also a board member of GIC (Singapore's sovereign wealth fund) and a member of the Council of Presidential Advisors in Singapore.

What awards did Lee Seng Wee receive for his contributions?

Lee Seng Wee was honored with the Distinguished Service Order in 2001 for his contributions to Singapore's banking sector. In 2006, he received the Woodrow Wilson Award in New York for Corporate Citizenship, recognizing his significant contributions to Singapore.