McLeish has been promised money to spend during the January transfer window by Yeung who will stage his first press conference since taking over at St Andrews on Thursday afternoon.
The former Scotland boss said: "Will I have the final decision on team and transfer targets? It will be down to me.
"That is the normal remit of a manager and we will pretty much be working that way.
"I'll take all the advice. If there are players Sammy suggests, or people like Steve McManaman come up with names, and I think they will enhance the club, then fine, absolutely.
"I will see what Steve has to offer. I don't know how much he has kept in touch with his Spanish contacts because that is a good market.
"I think Steve is a fine bloke who has a lot of experience so why not use it?
"There might be 99 per cent of the time when I say 'I don't fancy it' but that one per cent might make the difference."
McLeish has welcomed the news he will have money available to spend in January after a lack of signings 21 months ago led to Blues being relegated at the end of the 2007-2008 campaign.
He said: "We still have to realise we are not a Manchester United, Manchester City or Liverpool. We will still target a certain type of player.
"We are not going to target an Emmanuel Adebayor but there are players out there I know will enhance my first eleven we will try to attract."
Yu, whose title is 'vice chairman football' will be based at the Wast Hills training ground but McLeish is happy with that arrangement.
He said: "There are no suggestions that the new owners will appoint a director of football but Sammy Yu is kind of verging on that kind of title.
"I think the new board will have a base at the training ground and Sammy will work closely with me. That is fine. He is part of the big picture here."
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