Billionaire Doctor in Boardroom Key to OCBC’s New CEO Ambitions

As Tan Teck Long takes the helm of Oversea-Chinese Banking Corp., one of his main challenges may be winning over the billionaire sitting across the boardroom table.

Lee Tih Shih, whose family has been the largest shareholder of Southeast Asia’s No. 2 bank by assets for almost a century, has long kept a firm grip on spending at the firm, limiting big ticket investments or risky acquisitions to preserve capital, according to people familiar with the matter. They asked not to be identified discussing private issues.