Career As A Banker
In 1971, Yong switched from law to finance, and formed Singapore International Merchant Bankers Limited (SIMBL) and the Malaysian International Merchant Bankers (MIMB) in Malaysia serving as Chairman and Managing Director of both companies. At the same time he also served as a member of the Singapore Securities Industry Council from 1972 to 1981. He announced his retirement from the SIMBL and MIMB offices in 1976. That same year, Yong was appointed Vice-Chairman of the Oversea-Chinese Banking Corporation (OCBC).
He was seconded in 1982 by the Singapore Government to form and head the Government of Singapore Investment Corporation (GIC), and the Monetary Authority of Singapore as well. His experience in commercial banking proved to be invaluable to GIC as he effectively re-organized and streamlined the use of Singapore's foreign reserves.
He was also made Deputy Chairman of the Currency Commissioners, and Alternate Governor for Singapore of the International Monetary Fund.
In 1988, Yong became the first Chairman of the newly formed Institute of Policy Studies, and established the Regional Speakers Programme which saw prominent speakers and intellectuals from around the region to share their understanding of the culture and politics of the countries in the region. This initiative greatly helped with the development of Singapore governance.
Yong returned to the Oversea-Chinese Banking Corporation in 1983, as Chairman and Chief Executive Officer before returning to law as a judge in 1989.
Read more about this topic: Yong Pung How
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