Jeffrey Koo Sr.
{{family name hatnote|Koo}}
{{Short description|Taiwanese banker}}
{{Infobox person
| pre-nominals =
| name = Jeffrey Koo Sr.
| post-nominals =
| image = 2007ChinatrustGlobalLeadersForum JefferyKoo.jpg
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| native_name = {{nobold|辜濂松}}
| native_name_lang = zh
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| birth_date = {{birth date|1933|9|8}}
| birth_place = Taichū, Japanese Taiwan
| death_date = {{Death date and age|2012|12|06|1933|09|08}}
| death_place = New York City, U.S.
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| nationality = Republic of China
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| education = Soochow University (BA)
New York University (MBA)
| occupation = banker
| spouse =
| children = 4
| father =
| relatives = Koo Chen-fu, Koo Kwang-ming (uncles)
| awards = Eisenhower Fellowship
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Jeffrey Koo Sr. ({{zh|c=辜濂松|p=Gū Líansōng}}; 8 September 1933 – 6 December 2012) was a Taiwanese billionaire banker and the third-generation of the Koo Family who served as honorary chairman and governor of CTBC Financial Holding, and co founded Koos Group.
Early life and family
The rise of the Koo family dates back to the late nineteenth century in Lukang, which was the capital at the time. The first generation Koo ancestors held monopolistic investments in camphor, salt, sugar, and land.{{Cite book |last1=Ho |first1=Tsai-Man C. |title=Chinese Capitalisms |last2=Sun |first2=Wenbin |year=2010 |isbn=978-1-349-36637-8 |pages=176–198 |chapter=A Spell Breaker: The Dynamism of the Koo Family |doi=10.1057/9780230251359_8}} Today, the Koo Family has a bloodline of at least six generations.
Koo was born in 1933 in Taichū Prefecture in Japanese Taiwan. He graduated from Soochow University in Taipei 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 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.{{cite news|last1=Reyes|first1=Alejandro|title=Tycoons|url=http://www-cgi.cnn.com/ASIANOW/asiaweek/96/0517/biz2.html|archive-url=https://archive.today/20130121034959/http://www-cgi.cnn.com/ASIANOW/asiaweek/96/0517/biz2.html|url-status=dead|archive-date=January 21, 2013|accessdate=May 24, 2015|publisher=CNN.com|date=November 30, 2000}}
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[4]. 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 [5] and ambassador at-large representing Taiwan in cross-strait relations with China [6] 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. {{cite web |title=Heir to Finance Billions Builds New York Private Credit Firm |url=https://www.bloomberg.com/news/articles/2025-01-16/heir-to-finance-billions-builds-new-york-private-credit-firm |website=Bloomberg |publisher=Bloomberg |date=2025-01-16}}
Family Net Worth
File:Jeffrey Koo Sr. Residence.jpg, Shilin District, Taipei.]]
In 2001, The Wall Street Journal reported total net worth of the Koos Group to be US$36 billion.{{cite news| url = https://www.wsj.com/articles/SB1009305637400729160| title = Chairman of Koos Group Succumbs to Cancer at 48 - WSJ| newspaper = Wall Street Journal| date = 26 December 2001}} As of 2001, The Wall Street Journal reported the Koos Group's total net worth to be US$36 billion.{{cite news |url=https://www.wsj.com/articles/SB1009305637400729160 |title=Chairman of Koos Group Succumbs to Cancer at 48 |newspaper=Wall Street Journal |date=2001-12-26 |access-date=2025-02-11}} Today, the total net worth of the Koo Family is estimated to be over US$250 billion.
Career
Koo founded what is now Chinatrust Commercial Bank in 1966. It was established under the identity of China Securities and Investment Corporation. In 1971, its name was changed to Chinatrust Investment Company Limited. In 1992, it was transformed into Chinatrust Commercial Bank.{{cite web |title=CTBC Bank Official Website |url=https://www.ctbcbank.com/english/index.htm |publisher=CTBC Bank |access-date=2025-02-11}}
The bank has subsidiaries in the Philippines, the United States, Canada, and Indonesia, foreign branch offices in Singapore, Hong Kong, India, Japan, and Vietnam, and foreign representative offices in London, Bangkok, Hanoi, Beijing, Manila, and Los Angeles.{{cite web |title=CTBC Bank Official Website |url=https://www.ctbcbank.com/english/index.htm |publisher=CTBC Bank |access-date=2025-02-11}}
CTBC Bank was awarded by international professional agencies as Best Bank in Taiwan in Asiamoney and The Asset magazines. In the area of corporate banking, CTBC Bank was recognized by Global Finance and Asiamoney as the Best Foreign Exchange Bank in Taiwan, while Global Finance, The Asset, The Asian Banker, The Corporate Treasurer, and Global Trade Review magazines named CTBC Bank Taiwan's Best Trade Finance Bank. CTBC Bank was awarded Best Retail Bank in Taiwan by The Asian Banker for the ninth time and was named Taiwan's Best Wealth Management Bank in Euromoney for the eleventh time.
Koo was named Ambassador-at-large, representing Taiwan, mainly in Cross-strait relations.
In June 2008, Forbes ranked him as the sixth richest individual in Taiwan, with a net worth of US$ 2.8 billion.{{cite web |title=Taiwan's Richest: #6 Jeffrey Koo Sr. |url=https://www.forbes.com/lists/2008/87/biz_taiwanrichest08_Jeffrey-Koo-Sr_I59M.html |work=Forbes |date=2008-06-01 |access-date=2025-02-11}}
Koo is also an alumnus of Eisenhower Fellowships and a member of the Board of Trustees and a member of the APEC (Asia-Pacific Economic Cooperation).{{cite web|url=http://www.efworld.org/about/eisenhower_fellowships_board.php |title=Eisenhower Fellowships Board of Trustees |access-date=2012-08-29 |publisher= |date= |url-status=dead |archive-url=https://web.archive.org/web/20120830152415/http://www.efworld.org/about/eisenhower_fellowships_board.php |archive-date=2012-08-30 }}
Awards and honorary degrees
- Order of the Rising Sun, Gold and Silver Star from the Japanese government, 2012.{{cite web|url=http://focustaiwan.tw/ShowNews/WebNews_Detail.aspx?Type=aALL&ID=201204290016|title=Taiwanese entrepreneurs to be decorated in Japan|date=April 29, 2012|publisher=The Central News Agency}}
- Honorary PhD in Business from De La Salle University in the Philippines (1989)
- Honorary Doctorate from East China Normal University, Shanghai, China (2012)
Death
Koo went to New York City for treatment for Parkinson's disease{{cite news|title=Jeffrey Koo's body returns to Taiwan, mourners line street|url=http://www.taipeitimes.com/News/taiwan/archives/2012/12/15/2003550204|accessdate=May 24, 2015|work=Taipei Times|date=December 15, 2012}} and died at the Memorial Sloan-Kettering Cancer Center on 6 December 2012.{{cite news|last1=Wong|first1=Andrea|last2=Sun|first2=Yu-Huay|title=Chinatrust Chairman Jeffrey Koo Dies in New York City at Age 79|url=https://www.bloomberg.com/news/articles/2012-12-07/chinatrust-chairman-jeffrey-koo-dies-in-new-york-city-at-age-79|accessdate=May 24, 2015|work=Bloomberg Businessweek|date=December 7, 2012}}{{cite news|last1=Flannery|first1=Russell|title=Taiwan Billionaire Clan Leader Jeffrey Koo Dies At Age 79|url=https://www.forbes.com/sites/russellflannery/2012/12/07/taiwan-billionaire-clan-leader-jeffrey-koo-dies-at-age-79/|accessdate=May 24, 2015|work=Forbes|date=December 7, 2012}}
References
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{{Commons category|Jeffrey Koo Sr.}}
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Category:Hokkien businesspeople
Category:Taiwanese billionaires
Category:Soochow University (Taiwan) alumni
Category:New York University Stern School of Business alumni
Category:People from Changhua County
Category:Recipients of the Order of the Rising Sun, 2nd class
Category:Deaths from Parkinson's disease in New York (state)