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Temasek taps business chiefs to advise on Europe amid expansion

[SINGAPORE] Temasek Holdings Pte is tapping heads of several European companies to advise the Singapore state-owned investment firm as it increases its footprint in the region.

The investment firm said it established the Temasek European Advisory Panel, whose members include InterContinental Hotels Group Chairman Patrick Cescau, Diageo Plc Chairman Franz B. Humer and Rolls-Royce Holdings Plc Chairman Ian Davis, according to an e-mailed statement Wednesday.

Temasek has been expanding beyond Singapore since 2002 and investments in Europe currently account for 8 percent of its global portfolio exposure. The firm set up an office in London in 2014. It is the biggest shareholder in Standard Chartered Plc and has a stake in Spanish oil producer Repsol SA. The advisory panel will be followed by similar groups focusing on other key markets, according to a Temasek spokesman.

The Temasek panel will bring bring together "eminent business leaders and experts to share insights and perspectives on major political, economic, social and industry trends, with a focus on Europe," the investment company said in the statement.