Temasek revamps investment teams

SINGAPORE: Singapore´s Temasek Holdings said it would combine its sector and market investment teams and named senior executives Chia Song Hwee and Dilhan Pillay Sandrasegara as presidents of its international business.

As part of the reorganisation, Dilhan will take over as head of Americas from Boon Sim, who will leave on May 1, state investor Temasek said in a statement on Tuesday.

Temasek, a major global investor with stakes in Standard Chartered, Chinese banks and Singapore´s top companies, managed about S$266 billion ($197 billion) as of March 31, 2015.Chia and Dilhan have been identified by some bankers as potential candiates to succeed Temasek CEO Ho Ching, who is the wife of Singapore´s prime minister Lee Hsien Loong.

Ho joined Temasek in 2002 and has been its CEO since 2004.There has been talk for years about how long Ho would stay at the helm.

Temasek said the board looks at succession on an annual basis.

Boon joined Temasek in 2012 from Credit Suisse, where his last role was the Swiss bank´s head of global mergers and acquisitions.

"Boon had indicated his desire to relinquish his executive positions since the end of last year for personal and family reasons," a Temasek spokesman said in an email.

The latest reorganisation would give leadership roles to executives who have been driving investment decisions.