Public Bank founder and Chairman Emeritus Teh Hong Piow died today, at the age of 92.
Public Bank Founder Teh Hong Piow Dies At 92
Public Bank just announced that its founder and Chairman Emeritus, Tan Sri Teh Hong Piow died peacefully at 10:20 AM today, 12 December 2022, at the age of 92.
Teh Hong Piow was born in Singapore on 14 March, 1930, and studied at the Anglo Chinese School there. He began his banking career in 1950, as a clerk in the Overseas-Chinese Banking Corporation Ltd.
Ten years later, he joined Malayan Banking as a manager, and in 1964, was promoted to the position of general manager at just 34 years of age.
Teh left Malayan Banking two years later to set up Public Bank on 6 August 1966, with its first branch at Jalan Gereja, Kuala Lumpur. Several months later, Public Bank was listed on the Kuala Lumpur Stock Exchange on April 6, 1967.
He stepped down as Public Bank CEO in July 2002, and was appointed as a non-executive chairman. He retired in December 2018, and was conferred the title of Chairman Emeritus in January 2019 and remained a non-executive director.
Teh Hong Piow was ranked 4th in the Forbes list of richest men in Malaysia, with a fortune worth US$5.7 billion (RM25 billion).
He leaves behind his wife, Puan Seri Tay Sock Noy, whom he married in 1956, and their four children.
Public Bank Statement On Death Of Founder Teh Hong Piow
On 12 December 2022, Public Bank CEO Tan Sri Dato’ Sri Dr. Tay Ah Lek released this statement on the death of the bank’s founder and Chairman Emeritus:
Announcing the Demise of YBbg. Tan Sri Dato’ Sri Dr. Teh Hong Piow
It is with deep sorrow we announce that our Chairman Emeritus, Tan Sri Dato’ Sri Dr. Tch Hong Piow, the Founder of Public Bank, has passed away peacefully at 10:20 am today at the age of92. Tan Sri Teh’s passing is a great loss to the Public Bank Group. On behalf of the Board, Management and staff of the Public Bank Group, we extend our most heartfelt condolences and deepest sympathies to Tan Sri Teh’s family.
Tan Sri Teh founded Public Bank in 1965 at the age of 35. He was appointed as the Chief Exccutive Officer and Managing Director of Public Bank since its commencement of business operations on 6 August 1966. He relinquished his CEO position and was re-designated as Non-Executive Chairman of Public Bank on 1 July 2002. He retired as the Non-Executive Chairman of Public Bank on 31 December 2018, and was conferred the title of Chairman Emeritus and Adviser of Public Bank on 1 January 2019, and remained as a Non-Executive Director on the Board of Public Bank.
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