Singapore's Temasek revamps investment teams, Americas head goes

Strain in the city-state

SINGAPORE: Temasek Holdings Pte said its Americas president Boon Sim is leaving as the Singapore state investment firm appointed two new presidents in the latest management shuffle to help it navigate “challenging global times.”

Chia Song Hwee and Dilhan Pillay have been named presidents and the firm will reallocate some functions across groups to strengthen the focus and improve collaboration, it said in a statement yesterday. It will bring together its sector and market investment teams under a single Investment Group, create a new Portfolio Strategy and Risk Group, as well as a new Sustainability and Stewardship Group.