Lee Seng Wee
Lee Seng Wee | |
|---|---|
| Born | April 4, 1930 Singapore |
| Died | August 7, 2015 (aged 85) |
| Occupation(s) | Entrepreneur, banking executive |
| Known for | Chairman of OCBC Bank (1995–2003) |
Lee Seng Wee (; 4 April 1930 – 7 August 2015) was a prominent Singaporean entrepreneur and banking executive.
Early life
As the third son of Lee Kong Chian and the maternal grandson of Tan Kah Kee, Lee received his early education at the Anglo-Chinese School in Singapore. He pursued higher studies abroad, obtaining an engineering degree from the University of Toronto and later completing an MBA at the University of Western Ontario, where he graduated as the top student in his cohort.
Career
Upon his return to Singapore, Lee took on a leadership role at the Lee Rubber Company, eventually becoming vice-chairman. His involvement with OCBC Bank, which ranks as Southeast Asia’s second-largest bank, spanned five decades from 1966 to 2016. He served as chairman between 1995 and 2003, during which he orchestrated a S$2.4 billion acquisition of Keppel Capital Holdings in 2001.
Although Lee relinquished the chairman position in 2003, he continued to contribute as a non-executive director, steering OCBC’s strategic expansion. Notable acquisitions under his guidance included OCBC-NISP in Indonesia, OCBC China Bank, OCBC-Wing Hang in Hong Kong, ING Asia Bank’s private banking division, majority ownership of Great Eastern Life Insurance, and a 20% equity interest in Bank of Ningbo. In 2015, OCBC Group achieved a net profit after tax approaching S$4 billion.
In addition to his commitments at OCBC, Lee held directorship roles within the Lee Rubber Group Companies and the Lee Foundation. He was also a board member of Singapore’s sovereign wealth fund GIC as well as the Council of Presidential Advisors.
Lee’s outstanding service to Singapore earned him the Distinguished Service Order in 2001 and the Woodrow Wilson Award for Corporate Citizenship in 2006.
Death
Lee passed away on 7 August 2015 at the age of 85 due to complications arising from a head injury sustained after a domestic fall.