Update: Temasek names Chia, Pillay presidents in management restructure

[SINGAPORE] Temasek Holdings Pte Ltd appointed Chia Song Hwee and Dilhan Pillay as presidents, saying it's changing its organisational structure to help the company navigate "challenging global times".

The investment firm will reallocate some functions across groups to strengthen the focus and improve collaboration, it said in a statement Tuesday.

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.

"The changes we're making position the organisation to protect and work the Temasek portfolio, and continue to build capabilities as we grow," Lee Theng Kiat, chief executive officer of Temasek International, said in the statement.

Temasek will also appoint Fidah Alsagoff, Michael Buchanan, Png Chin Yee and Juliet Teo as senior managing directors, it said. The appointments take effect on May 1.

It also said that its Americas president Boon Sim is leaving.

Mr Sim, who was also head of Temasek's markets group and head of its credit portfolio, according to the company's 2015 annual review, is leaving May 1.

He will become advisory senior director and continue helping the company strengthen its network in the US, serve on some boards and advise on projects, the company said in an e-mailed statement in response to Bloomberg queries.

Mr Sim indicated a desire to relinquish his executive positions since the end of last year for personal and family reasons, Temasek said. He was hired in 2012 and was previously global head of mergers and acquisitions at Credit Suisse Group AG. He didn't answer a call to his US mobile phone seeking comment.

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