By Nick Hedley
Singapore’s Temasek, which has a S$403 billion (US$285
billion) investment portfolio, has reorganized its top management team
following a recent organizational review.
Tan Chong Lee, currently the group’s president, will be
transferred to 65 Equity Partners as CEO. 65 Equity Partners is a wholly owned
subsidiary of Temasek’s that focuses on equity and structured equity
investments.
After 16 years in the role, Leong Wai Leng will relinquish
her position as chief financial officer and will become president of the
Singapore market. She will “help shape and advance our strategic initiatives in
Singapore, as well as our engagements with various Singapore stakeholders,”
Temasek said in a statement.
Deputy CFO Png Chin Yee, who was previously head of the
financial services portfolio, will assume the CFO role beginning January 1,
2023.
Meanwhile, Pek Siok Lan, general counsel, will be on
sabbatical leave from January 2023 and will return to the firm in July 2023 to
assume a new role.
“Temasek undertakes regular organizational reviews to evolve
and align our organization[al] structure and capabilities towards our various
strategic initiatives,” the firm said.
“This is also part of our disciplined way of succession
planning for key leadership positions within the firm, which will see the
evolution of the senior leadership team that will carry Temasek through our
2030 journey and beyond.”
