Wu received his secondary school education at Wah Yan College[1] and went on to complete a foundation course in accountancy at the then Teesside Polytechnic, United Kingdom, in 1975.

[3] Wu was appointed to the first board of directors of New China Hong Kong Group Limited in 1992, resigning in February 1993 to serve on its executive committee and act as financial advisor[4] thereafter until its collapse in early 1999 with HK$1.5 billion in unpaid creditors.

[5] In 2016, Wu was Deputy Chairman of listed Sincere Watch (Hong Kong) Ltd and independent non-executive director of three other Hong Kong listed firms: Li Ka-shing controlled Power Assets Holdings Limited, PRC government investment arm Guangdong Investment Limited and PRC government controlled China Taiping Insurance Holdings.

The Hong Kong Government awarded Wu the Gold Bauhinia Star (GBS), its highest honour, for distinguished service to the community in 2008, one of eight recipients that year.

[6] The institute, exceptionally, issued a statement in July 2014 in response to unrepentant remarks by Wu, in which it stated that his breaches had been "persistent, flagrant and inexcusable".