SINGAPORE - United Overseas Bank (UOB) has appointed Wee Ee Lim, 56, a non-independent, non-executive director effective July 1.
This comes as part of the group's ongoing board renewal process, UOB said.
Mr Wee Ee Lim is the son of UOB's chairman emeritus and banking tycoon Wee Cho Yaw, and the brother of CEO Wee Ee Cheong. He will be a member of the bank's board risk management committee and its strategy committee.
Mr Wee Ee Lim owns a total of 171.4 million ordinary shares in UOB. As at 11.59am on Thursday, the counter was trading 2.2 per cent, or 65 Singapore cents higher to S$29.88.
In a press statement on Thursday, UOB said that Mr Wee brings with him experience on international business and listed companies.
Since 2003, Mr Wee has been the president and CEO of Haw Par Corporation, and has been involved closely in the management and growth of the Haw Par Group over the past 30 years, UOB said.
Mr Wee is a member of Haw Par Group's Investment Committee which evaluates investments across various industries. The Haw Par Group has diverse businesses in the region, including investment, healthcare, leisure and real estate.
In addition, Mr Wee holds a Bachelor of Arts (Economics) degree from Clark University in the US.
He is also director of property companies UOL Group and United Industrial Corporation, as well as the Wee Foundation.