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Back to the past for World

THE historic move by World International (Holdings) to resuscitate Wheelock and Co is part of a corporate repositioning at the group led by chairman Peter Woo Kwong-ching.

The Wheelock name, dating back to 1857 in Shanghai, is well known overseas and the Chinese name Wei Da Fung is well established in China.

In the past Wheelock, and later Wheelock Marden, was a hong that stood alongside Hutchison, Jardine Matheson and Swire.

The ravages of recession and a collapsing financial system in 1983-84 took its toll on the group's stability.

In a contested takeover, Wheelock Marden was gobbled up by the late Sir Yue-kong Pao's World International Group, and he probably would not be pleased with the change, as it will end up using a name he helped swallow.