UOB’s Long Game: Wee Ee Cheong Bets on Bonsai Philosophy

As United Overseas Bank or UOB approaches its centenary, CEO Wee Ee Cheong is focused less on short-term volatility and more on building durable value over decades. In a wide-ranging interview with «Lianhe Zaobao», the third-generation leader outlines a strategy anchored in regional growth, disciplined risk management and cultural continuity. Wee Ee Cheong recently asked artificial intelligence (AI) to forecast UOB’s market capitalisation 10 years from now. The answer – between S$90 billion and S$100 billion – struck him as conservative. He noted that such projections underestimate Southeast Asia’s growth potential and the bank’s ability to compound value as it enters its second century, highlighting his confidence in the region’s long-term structural tailwinds. UOB is accelerating its Southeast Asian expansion, targeting 30 percent of group revenue from the region while maintaining Singapore’s contribution at around 50 percent. Wee describes Southeast Asia as today’s economic «sweet spot», benefiting from supply-chain realignment, rising intra-regional trade and demographic momentum. Markets such as Malaysia, where UOB is already the largest foreign bank, are central to this strategy, particularly as cross-border business activity intensifies. Short-Term Headwinds, Long-Term Conviction The bank’s recent financial performance has faced pressure, including a sharp year-on-year drop in third-quarter earnings in 2025 and additional provisions linked to commercial real estate exposure in Greater China and the US. Wee remains sanguine, arguing that cycles are inevitable and that UOB’s strong profitability and capital buffers allow it to absorb shocks without compromising its strategic direction. «The storm will pass», he said, framing volatility as a test of discipline rather than a reason for alarm. Diversifying Beyond Interest Income To smooth earnings across cycles, UOB is deepening its wealth management and private banking businesses, targeting non-interest income to reach 37 percent of total revenue by 2026. Wee believes cultural familiarity gives UOB an edge in attracting family offices from mainland China, Hong Kong, Taiwan and Southeast Asia, reinforcing the bank’s role as a regional connector rather than a purely transactional lender. Succession as a Process, Not an Event At 72, Wee addresses succession with characteristic patience. He stresses that leadership transitions cannot be rushed and that internal grooming remains the preferred path. Developing the next generation of leaders, he argues, takes five to ten years and requires balancing experience with fresh perspectives – a philosophy reflected in UOB’s low senior management turnover and strong institutional memory. Wee’s reflections on his late father, Wee Cho Yaw, underscore how family values have shaped UOB’s culture. Stability, humility, and a sense of responsibility are recurring themes, both at home and in the boardroom. For Wee, preserving these values is essential as the bank navigates technological disruption and AI-driven change. Preparing employees for transformation, rather than promising immunity from it, is part of that responsibility. Bonsai Philosophy of Leadership Wee frequently returns to the metaphor of bonsai – growth guided by careful pruning rather than forced expansion. Companies, like trees, must periodically renew themselves without losing their core structure. This philosophy underpins UOB’s measured expansion, cautious risk-taking, and emphasis on long-term resilience over rapid gains. As global banking grapples with slowing growth, geopolitical tension, and technological upheaval, Wee Ee Cheong’s leadership offers a counterpoint to short-termism. UOB’s strategy – patient capital allocation, regional focus,s and cultural continuity – suggests that in finance, as in bonsai, mastery lies in knowing when to act and when to wait. The feature was first published in Singapore’s daily «Lianhe Zaobao», and later translated and published by ThinkChina.sg in English. A pick-up also appeared in «The Straits Times».