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Temasek announces organisational changes
TEMASEK International has appointed Chia Song Hwee as deputy chief executive officer with effect from Jan 1, 2020, CEO Dilhan Pillay Sandrasegara announced on Friday.
Mr Pillay announced this along with several other appointments and changes to take effect the same day, saying: "The world in which we operate is becoming increasingly complex. We need to make sure our organisational structure gives us the clarity and robustness to deal with this complexity, while delivering on our strategic and institutional initiatives.
"These changes are a part of our journey, and change will be a constant on that journey. I expect our organisation structure to continue to evolve as we develop talent, build capabilities, tackle challenges and strengthen our portfolio."
Mr Pillay added that Temasek is committed to "bringing sustainability to the core of everything" it does, and will continue to work toward this goal with actions such as embedding its Environmental, Social, and Governance (ESG) framework into investment and portfolio management processes and halving its portfolio's carbon footprint by 2030.
Mr Chia is currently the chief operating officer of Temasek International, the investment and management arm of state investor Temasek Holdings. In his new role, he will work with Mr Pillay to drive strategic and institutional initiatives as well as oversee activities related to its portfolio, investments and technology.
The other changes announced were as follows:
- Rohit Sipahimalani will be appointed chief investment strategist and head of the South-east Asia office. (see correction note)
- Nagi Hamiyeh, joint head of the Investment Group, will also be heading a new Portfolio Development function in the Investment Group, to actively enhance the value of core assets through partnerships, innovation, growth strategies and/or restructuring across Temasek's portfolio.
- Ravi Lambah, joint head of the Investment Group, will take on the additional role of head of Direct Investments, leading Temasek's direct investing units including its clusters, markets and other investment teams.
- Chan Wai Ching will be appointed chief corporate officer to focus on strengthening Temasek's talent bench, build its people and talent capabilities and create new corporate capabilities for the next phase of growth.
- Png Chin Yee, who is currently head of Financial Services, will be appointed deputy chief financial officer as well to oversee the Finance Group with chief financial officer Leong Wai Leng.
- Tan Chong Lee and Uwe Krueger will be named joint heads of the EMEA (Europe, Middle East and Africa) office.
- Mukul Chawla will be appointed joint head of North America to work alongside John Vaske. Mr Vaske continues in his role as head of Americas.
Correction note: An earlier version of this story incorrectly stated the positions that Rohit Sipahimalani will hold after the changes are made. Temasek International has since corrected its announcement and said that he will only hold the positions of chief investment strategist and head of the South-east Asia office. The article above has been revised to reflect this.