Jeffrey Koo Sr. facts for kids
Quick facts for kids
Jeffrey Koo Sr.
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| 辜濂松 | |
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| Born | September 8, 1933 Taichū, Japanese Taiwan
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| Died | December 6, 2012 (aged 79) New York City, United States
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| Nationality | Republic of China |
| Education | Master of Business Administration |
| Alma mater | Soochow University New York University Stern School of Business |
| Occupation | banker |
| Children | 4 |
| Relatives | Koo Chen-fu, Koo Kwang-ming (uncles) |
| Family | Koo family |
| Awards | Eisenhower Fellowship |
Jeffrey Koo Sr. (Chinese: 辜濂松; pinyin: Gū Líansōng; born September 8, 1933 – died December 6, 2012) was a very successful Taiwanese banker. He was the honorary chairman of Chinatrust Bank. He also helped start the Koos Group, a large group of businesses.
Contents
The Koo Family's History
The Koo family became important in the late 1800s. They lived in Lukang, which was a major city in Taiwan back then. The first members of the Koo family owned businesses that controlled things like camphor, salt, sugar, and land. This helped them become very wealthy.
Jeffrey Koo Sr.'s Early Life
Jeffrey Koo Sr. was born in 1933 in Taichū Prefecture, which was part of Japanese Taiwan at the time. He went to Soochow University in Taipei. He earned a degree in accounting in 1957.
After that, he moved to New York City in the United States. He studied at the New York University Stern School of Business. In 1962, he earned his Master of Business Administration (MBA) degree. His youngest son and eldest grandson also studied at NYU Stern.
Building a Business Empire
In the mid-1900s, Jeffrey Koo Sr. worked with his uncle, Koo Chen-fu. Together, they started the Koos Group. This group grew into many different businesses. These included cement, insurance, financial services, and hotels.
One of the most important parts of the Koos Group is Chinatrust Financial Holding. This is one of the largest and most respected private banks in Asia. Jeffrey Koo Sr. also received an Eisenhower Fellowship award. He also served as an ambassador for Taiwan. He helped with important discussions between Taiwan and China. He also attended big international meetings like APEC.
Jeffrey Koo Sr. had a wife, a daughter, and three sons. His sons are Jeffrey Koo Jr. and Andre Koo. Andre Koo's oldest son, Andre Koo Jr., is expected to lead the family's businesses in the future.
The Koo Family's Wealth
In 2001, The Wall Street Journal reported that the Koos Group had about US$36 billion in total assets. Assets are things a business owns that have value. Today, the Koo Family's total assets are estimated to be over US$250 billion. This shows how much their businesses have grown.
Jeffrey Koo Sr.'s Banking Career
Jeffrey Koo Sr. started what is now known as Chinatrust Commercial Bank in 1966. It was first called China Securities and Investment Corporation. In 1971, its name changed to Chinatrust Investment Company Limited. Finally, in 1992, it became Chinatrust Commercial Bank.
The bank grew very large and opened offices in many countries. It has branches in the Philippines, the United States, Canada, and Indonesia. It also has offices in Singapore, Hong Kong, India, Japan, and Vietnam.
CTBC Bank has won many awards from international groups. It has been named the Best Bank in Taiwan by magazines like Asiamoney. It has also been recognized for being the Best Foreign Exchange Bank and Best Trade Finance Bank in Taiwan. For many years, it has been named Taiwan's Best Retail Bank and Best Wealth Management Bank.
Jeffrey Koo Sr. was also chosen as an Ambassador-at-large for Taiwan. This meant he represented Taiwan in important discussions, especially with China. In 2008, Forbes magazine said he was the sixth richest person in Taiwan. His wealth was estimated at US$2.8 billion.
He was also a member of the Board of Trustees for Eisenhower Fellowships. He was also part of the APEC (Asia-Pacific Economic Cooperation) organization.
Awards and Special Degrees
Jeffrey Koo Sr. received several important awards and honorary degrees:
- In 2012, he received the Order of the Rising Sun, Gold and Silver Star from the Japanese government. This is a very high honor.
- In 1989, he received an honorary PhD in Business from De La Salle University in the Philippines.
- In 2012, he received an honorary doctorate from East China Normal University in Shanghai, China.
His Passing
Jeffrey Koo Sr. went to New York City for medical treatment. He had Parkinson's disease. He passed away at the Memorial Sloan-Kettering Cancer Center on December 6, 2012.
