KUALA LUMPUR: Public Bank Bhd
’s founder and chairman emeritus, director and adviser Tan Sri Teh Hong Piow passed away yesterday at the age of 92.
Teh was born in Singapore on March 14, 1930 and has been married to Puan Seri Tay Sock Noy since 1956, a biography note on Public Bank’s website said.
Teh began his banking career in 1950 as a bank clerk in Overseas-Chinese Banking Corp Ltd and rose the ranks to an officer within five years.
He joined Malayan Banking Bhd (Maybank) as manager in 1960, it said.
“Later in 1964, he was promoted to the position of general manager at the age of 34. Teh then left Maybank in 1966 to set up Public Bank. He has since overseen its evolution into a modern and integrated financial institution with a wide network of 265 domestic and two overseas branches,” it added.
According to Public Bank’s annual report, Teh also sat on the boards of directors in several other companies within the Public Bank Group: as chairman of Public Mutual Bhd, Hong Kong-listed Public Financial Holdings Ltd, Public Bank (Hong Kong) Ltd, Cambodian Public Bank Plc; and several other subsidiaries of Public Bank.
He was also the director at Public Investment Bank Bhd and Public Islamic Bank Bhd.
Teh had also won numerous awards both domestically and internationally in recognition of his achievements as a banker and the chief executive officer of a leading financial services group.
Other than that, he had also served in various capacities in public service bodies in Malaysia.
His profile on the annual report states he had been a member of the Malaysian Business Council, the National Trust Fund, a founder member of the Advisory Business Council since 2003 and he was also a member of the Institute of Public Relation Malaysia Accreditation Privy Council.
In terms of asset size, Public Bank is the third-largest banking group in Malaysia today.
Teh has been widely-credited in growing the bank into what it is today.
Public Bank’s AGMs usually saw numerous shareholders thanking Teh for his contributions for growing the bank in size and stature.
Its shares yesterday continued to stay resilient despite his death, given that the bank’s leadership transition had already been implemented way earlier.
Public Bank’s shares ended the trading day one sen lower at RM4.40 yesterday, giving it a market capitalisation of RM85.4bil.
