Jeffrey Koo Sr. (; 8 September 1933 – 6 December 2012) was a Taiwanese billionaire

banker A bank is a financial institution that accepts Deposit account, deposits from the public and creates a demand deposit while simultaneously making loans. Lending activities can be directly performed by the bank or indirectly through capital m ...

and the third-generation of the Koo Family who served as honorary chairman and governor of CTBC Financial Holding, and co founded

Koos Group The Koos Group (), founded by the Jeffrey Koo Sr. and Koo Chen-fu, the Koo Family, is a Taiwan-based pan-Asian business group involved in a vast range of industries, which include banking, manufacturing, petrochemicals, electronics, leasing, cem ...

Early life and family

The rise of the Koo family dates back to the late nineteenth century in

Lukang Lukang, formerly romanized as Lugang and also known by other names, is an urban township in northwestern Changhua County, Taiwan. The township is on the west coast of Taiwan, facing the Taiwan Strait. Lukang was an important sea port in the 18t ...

, which was the capital at the time. The first generation Koo ancestors held monopolistic investments in camphor, salt, sugar, and land. Today, the Koo Family has a bloodline of at least six generations. Koo was born in 1933 in

Taichū Prefecture was one of the administrative divisions of Taiwan under Japanese rule, Japanese Taiwan. The prefecture consisted of modern-day Taichung City, Changhua County and Nantou County. It is also the origin of the name of modern-day Taichung. The Taich ...

Japanese Taiwan The island of Taiwan, together with the Penghu Islands, became an annexed territory of the Empire of Japan in 1895, when the Qing dynasty ceded Fujian-Taiwan Province in the Treaty of Shimonoseki after the Japanese victory in the First Sin ...

. He graduated from Soochow University in

Taipei , nickname = The City of Azaleas , image_map = , map_caption = , pushpin_map = Taiwan#Asia#Pacific Ocean#Earth , coordinates = , subdivision_type = Country ...

in 1957 with a BA in accounting, moved to New York (lived in Brooklyn Heights) and graduated from

New York University Stern School of Business The Leonard N. Stern School of Business (also NYU Stern, Stern School of Business, or simply Stern) is the business school of New York University, a private research university based in New York City. Founded as the School of Commerce, Accounts ...

in 1962 with an MBA: his youngest son Andre Koo and eldest grandson Andre Koo Jr. also attended NYU Stern as the 3rd legacy alum.

Personal life

Around the mid 20th century, Koo co-founded with his uncle, Koo Chen-fu, the Koos Group which is a conglomerate/consortium of businesses including cement, insurance, financial services, leasing, hospitality, etc. Chinatrust Financial Holding – one of the largest, esteemed, and privately owned commercial banks in Asia Jeffrey Koo Sr. is the acclaimed "Father of Credit Cards," introducing the first credit card system into Asia. Koo was also an Eisenhower Fellowship awardee and ambassador at-large representing Taiwan in cross-strait relations with China and attended major international forums such as the APEC (Asia-Pacific Economic Cooperation). Koo is survived upon his wife, daughter and three sons. The eldest being Jeffrey Koo Jr. and the youngest son being Andre Koo. Andre Koo's eldest son, Andre Koo Jr., is the heir to the Koo Family empire and is actively involved in managing K8 Capital, a hybrid Private Credit and Venture Capital firm.

Family Net Worth

In 2001, ''

The Wall Street Journal ''The Wall Street Journal'' (''WSJ''), also referred to simply as the ''Journal,'' is an American newspaper based in New York City. The newspaper provides extensive coverage of news, especially business and finance. It operates on a subscriptio ...

'' reported total net worth of the Koos Group to be US$36 billion. As of 2001, ''The Wall Street Journal'' reported the Koos Group's total net worth to be US$36 billion. Today, the total net worth of the Koo Family is estimated to be over US$250 billion.

Career

Koo founded what is now Chinatrust Commercial Bank in 1966. It was established under the identity of China Securities and Investment Corporation. In 1971, its name was changed to Chinatrust Investment Company Limited. In 1992, it was transformed into Chinatrust Commercial Bank. The bank has subsidiaries in the Philippines, the United States, Canada, and Indonesia, foreign branch offices in Singapore, Hong Kong, India, Japan, and Vietnam, and foreign representative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles. CTBC Bank was awarded by international professional agencies as Best Bank in Taiwan in Asiamoney and The Asset magazines. In the area of corporate banking, CTBC Bank was recognized by Global Finance and Asiamoney as the Best Foreign Exchange Bank in Taiwan, while Global Finance, The Asset, The Asian Banker, The Corporate Treasurer, and Global Trade Review magazines named CTBC Bank Taiwan's Best Trade Finance Bank. CTBC Bank was awarded Best Retail Bank in Taiwan by The Asian Banker for the ninth time and was named Taiwan's Best Wealth Management Bank in Euromoney for the eleventh time. Koo was named

Ambassador-at-large An ambassador-at-large is a diplomat, a secretary of state, secretary, or a minister (government), minister of the highest rank who is accredited to represent a country and its people internationally. Unlike an ambassador-in-residence, who is us ...

, representing Taiwan, mainly in Cross-strait relations. In June 2008, ''

Forbes ''Forbes'' () is an American business magazine founded by B. C. Forbes in 1917. It has been owned by the Hong Kong–based investment group Integrated Whale Media Investments since 2014. Its chairman and editor-in-chief is Steve Forbes. The co ...

'' ranked him as the sixth richest individual in Taiwan, with a net worth of

US$ The United States dollar (Currency symbol, symbol: Dollar sign, $; ISO 4217, currency code: USD) is the official currency of the United States and International use of the U.S. dollar, several other countries. The Coinage Act of 1792 introdu ...

2.8 billion. Koo is also an alumnus of

Eisenhower Fellowships Eisenhower Fellowships (EF) is a private, non-profit organization created in 1953 by a group of American citizens to honor President Dwight D. Eisenhower for his contribution to humanity as a soldier, statesman, and world leader. The organization ...

and a member of the Board of Trustees and a member of the

APEC Asia-Pacific Economic Cooperation (APEC ) is an inter-governmental forum for 21 member economy , economies in the Pacific Rim that promotes free trade throughout the Asia-Pacific region. Following the success of Association of Southeast Asia ...

(Asia-Pacific Economic Cooperation).

Awards and honorary degrees

* Order of the Rising Sun, Gold and Silver Star from the Japanese government, 2012. * Honorary PhD in Business from

De La Salle University De La Salle University (), also referred to as DLSU, De La Salle or La Salle, is a private, Catholic coeducational research university run by the Institute of the Brothers of the Christian Schools with main campus in Taft Avenue, Malate, Man ...

in the

Philippines The Philippines, officially the Republic of the Philippines, is an Archipelagic state, archipelagic country in Southeast Asia. Located in the western Pacific Ocean, it consists of List of islands of the Philippines, 7,641 islands, with a tot ...

(1989) * Honorary Doctorate from

East China Normal University East China Normal University (ECNU) is a public university in Shanghai, China. It is affiliated with the Ministry of Education (China), Ministry of Education and co-funded with the Shanghai Municipal People's Government. The university is part of ...

Shanghai Shanghai, Shanghainese: , Standard Chinese pronunciation: is a direct-administered municipality and the most populous urban area in China. The city is located on the Chinese shoreline on the southern estuary of the Yangtze River, with the ...

, China (2012)

Death

Koo went to

New York City New York, often called New York City (NYC), is the most populous city in the United States, located at the southern tip of New York State on one of the world's largest natural harbors. The city comprises five boroughs, each coextensive w ...

for treatment for

Parkinson's disease Parkinson's disease (PD), or simply Parkinson's, is a neurodegenerative disease primarily of the central nervous system, affecting both motor system, motor and non-motor systems. Symptoms typically develop gradually and non-motor issues become ...

and died at the

Memorial Sloan-Kettering Cancer Center Memorial Sloan Kettering Cancer Center (MSK or MSKCC) is a oncology, cancer treatment and research institution in Manhattan in New York City. MSKCC is one of 72 National Cancer Institute–NCI-designated Cancer Center, designated Comprehen ...

on 6 December 2012.

References

{{DEFAULTSORT:Koo, Jeffrey Sr. Hokkien businesspeople Taiwanese bankers Koo family (Lukang) Taiwanese billionaires Soochow University (Taiwan) alumni New York University Stern School of Business alumni People from Changhua County 1933 births 2012 deaths Recipients of the Order of the Rising Sun, 2nd class Deaths from Parkinson's disease in New York (state) Taiwanese people of Hoklo descent Eisenhower Fellows Ambassadors-at-large of the Republic of China