The S$172 billion ($120 billion) Singaporean investor, Temasek, has made a number of changes to its executive management structure, separating the executive director and chief executive positions and appointing a dedicated head of portfolio management.
Hsieh Fu Hua, special advisor to the chief executive of Temasek, Ho Ching, will be the firm’s new executive director and president, effective from August.
Hsieh has been on the Temasek board since February, and his new position will see a separation of Ho Ching’s chief executive and executive director duties which she has jointly held since 2004.
The two executives will work closely “to build a robust institution for the long-term, including talent development and succession planning”Â, the firm said in a statement.
Hsieh was formerly chief executive of the Singapore Exchange, and had a long career in investment banking including time with BNP and Morgan Grenfell.
Temasek has also appointed a head of portfolio management, Dilhan Pillay Sandrasegara, who will start in October.
“Recognised as one of the best corporate lawyers in Singapore, Dilhan will head our portfolio management which focuses on governance and value creation opportunities for the Temasek portfolio,” the statement said.
Temasek’s investment strategy centres on four themes: transforming economies, growing middle income populations, deepening comparative advantages, and emerging champions.