Public Bank Berhad commenced operations in 1966 under the leadership of Teh Hong Piow, who transformed the organization into a major integrated financial institution. Throughout his career, he maintained a distinct regulatory status as one of three individuals in Malaysia permitted to hold more than a 10 percent equity stake in a domestic financial entity.
Early Career and Banking Foundation
Born in the Colony of Singapore in 1930, Teh received his primary and secondary education at the Anglo-Chinese School. He entered the banking sector in 1950, securing a position as a clerk at the Overseas-Chinese Banking Corporation Ltd. His progression within the industry was rapid; he attained the rank of officer within five years. In 1960, he joined Malayan Banking Berhad, where he served as a manager before being promoted to general manager in 1964 at the age of 34.
Twenty questions, eight minutes on the clock, and a percentile measured against everyone who has taken it. No sign-up.
Take the IQ test →Development of Public Bank Berhad
Following his tenure at Malayan Banking Berhad, Teh founded Public Bank Berhad in 1965. Under his guidance, the bank expanded significantly, eventually operating a network of 259 domestic branches alongside two overseas locations. He served as chairman, director, and adviser for the group. In 2018, he retired as chairman of Public Islamic Bank Bhd and Public Investment Bank Bhd, though he maintained his role as a non-executive director. He stepped down as chairman of Public Bank Group on 1 January 2019, transitioning into an advisory role to support ongoing corporate growth.
Recognition and Public Life
Over the course of his professional life, Teh received approximately 45 awards and various state honours. His distinctions include the Panglima Setia Mahkota awarded in 1983 and the Grand Knight of the Order of Sultan Ahmad Shah of Pahang, which he received in 2002. He also held the Grand Knight of the Order of the Crown of Pahang. Beyond his banking duties, he held leadership roles in the Public Foundation and LPI Capital Berhad. He died in Kuala Lumpur on 12 December 2022 at the age of 92.
Fast facts
- Born: 1930, Colony of Singapore
- Died: 2022, Kuala Lumpur
- Education: Anglo-Chinese School
- Major Achievement: Founded Public Bank Berhad
- Notable Honour: Panglima Setia Mahkota (1983)
- Notable Honour: Grand Knight of the Order of Sultan Ahmad Shah of Pahang (2002)
Questions readers ask
What was Teh Hong Piow's primary business contribution?
He founded Public Bank Berhad in 1965 and grew it into a major integrated financial institution in Malaysia.
Did Teh hold any official state titles?
Yes, he was awarded several honours, including the Panglima Setia Mahkota in 1983 and the Grand Knight of the Order of Sultan Ahmad Shah of Pahang in 2002.
Achievements
- Grand Knight of the Order of the Crown of Pahang
- Grand Knight of the Order of Sultan Ahmad Shah of Pahang — 2002
- Educated at Anglo-Chinese School
