Updated: 08/08/2012 02:38

UOB's chairman Wee Cho Yaw to step down next year

®Copyright MediaCorp

Wee Cho Yaw will step down as chairman of Singapore's United Overseas Bank in April 2013.

This, after nearly four decades at the helm.

Hsieh Fu Hua, a former CEO of Singapore Exchange, will become the non-executive chairman of UOB.

Mr Wee, who is 82, became chairman and chief executive of UOB in 19-74.

But he relinquished his CEO position to his son, Wee Ee Cheong, in April 2007.

Mr Wee's family controls UOB, Singapore's third-biggest lender by assets after DBS Group and OCBC.