Temasek sets up panel of advisers for Americas

Also on the Temasek Americas Advisory Panel are (clockwise from top left) Mr Geithner, Ms Nooyi, Mr Levin and Ms Kullman.
Mr Cote, Honeywell chairman and chief executive, at the International Economic Forum of the Americas in Montreal, Canada, on Monday. He is among seven American business leaders appointed by Temasek to its advisory panel.PHOTO: BLOOMBERG
Mr Cote, Honeywell chairman and chief executive, at the International Economic Forum of the Americas in Montreal, Canada, on Monday. He is among seven American business leaders appointed by Temasek to its advisory panel.
Also on the Temasek Americas Advisory Panel are Mr Geithner (above), Ms Nooyi, Mr Levin and Ms Kullman. PHOTO: BLOOMBERG
Also on the Temasek Americas Advisory Panel are (clockwise from top left) Mr Geithner, Ms Nooyi, Mr Levin and Ms Kullman.
Also on the Temasek Americas Advisory Panel are Mr Geithner, Ms Nooyi (above), Mr Levin and Ms Kullman. PHOTO: REUTERS
Also on the Temasek Americas Advisory Panel are (clockwise from top left) Mr Geithner, Ms Nooyi, Mr Levin and Ms Kullman.
Also on the Temasek Americas Advisory Panel are Mr Geithner, Ms Nooyi, Mr Levin and Ms Kullman (above). PHOTO: DUPONT
Also on the Temasek Americas Advisory Panel are (clockwise from top left) Mr Geithner, Ms Nooyi, Mr Levin and Ms Kullman.
Also on the Temasek Americas Advisory Panel are Mr Geithner, Ms Nooyi, Mr Levin (above) and Ms Kullman.BT FILE

Temasek Holdings announced the formation of an advisory panel yesterday that comprises some of the most eminent business figures in the Americas.

The Temasek Americas Advisory Panel (TAAP), which held its first meeting this week in New York, has seven members, including PepsiCo chairman and chief executive Indra Nooyi, Honeywell International chairman and CEO David Cote, and former US treasury secretary Timothy Geithner, who also chairs TAAP.

The other members are former DuPont chairman and CEO Ellen Kullman; online education platform Coursera CEO Richard Levin; Mr Ronald Sugar, the former chairman and CEO of defence giant Northrop Grumman; and the former chairman and CEO of agribusiness Bunge, Mr Alberto Weisser.

Mr Dilhan Pillay Sandrasegara, Temasek International's president and head of Americas, said: "As Temasek increases our presence across the Americas, our TAAP members will provide us with the benefit of their experience and insights as we seek opportunities against the backdrop of an increasingly challenging global macro environment.

"I look forward to the sharing of perspectives as we continue to explore opportunities and build on our investment activities together."

Temasek set up a European Advisory Panel in January.

North America and Europe commanded 43 per cent of Temasek's new investments in the 12 months to March 31 last year, reflecting a diversified approach that aims to buffer against the slowdown in Asia.

In terms of the geographical proportion of Temasek's portfolio, North America and Europe have been growing steadily from 12 per cent of total in 2013 to 17 per cent last year.

The investments in the West have also been driven by an interest in the region's new technologies and innovations.

In North America, Temasek has focused on investing in emerging sectors such as the life sciences, technology and energy sub-sectors.

The investment company made the news earlier this month when it announced that it and GIC will acquire a combined US$1 billion (S$1.35 billion) of Alibaba stock.

Temasek typically conducts its annual review in July. The past financial year's performance has likely eased due to the global market volatility, CIMB Private Banking economist Song Seng Wun said, but Temasek's long-term investment approach is unlikely to be swayed by the short-term fluctuations.

A version of this article appeared in the print edition of The Straits Times on June 17, 2016, with the headline 'Temasek sets up panel of advisers for Americas'. Print Edition | Subscribe