SINGAPORE - Temasek International, the management arm of Temasek Holdings, said chief executive Lee Theng Kiat will take on the additional role of deputy chairman from Monday (Oct 16).
The appointment was among several announced as part of efforts to sharpen Temasek's focus on organisation development, strengthen support for Mr Lee as CEO and prepare Temasek for its next phase of development.
Mr Dilhan Pillay who was a president of Temasek International has been named deputy chief executive officer.
Mr Chia Song Hwee has been appointed chief operating officer of Temasek International. He is president of Temasek International as well as the joint head of Temasek's investment group, portfolio management group and Singapore.
Mr Tan Chong Lee will be appointed president of Temasek International, on top of his current roles as head of Europe, South-east Asia as well as joint head of the portfolio management group.
Temasek International chairman and Temasek Holdings CEO Ho Ching will remain in those roles.
"As our organisation and the operating environment evolve, the need to operate with agility, alignment and accountability has never been more important. It is critical for us to build a strong culture of ownership within our firm and our people," Mr Lee said.
CIMB Private Bank economist Song Seng Wun said the tweaks to the senior management team reflects Temasek's belief in promoting from within.
"It projects confidence in their pool of local talent that they believe these are the leaders who can continue taking Temasek forward," he said.
"The world of investing is a lot more challenging now, with low growth, low interest rates and low inflation rates. Allowing these senior managers to take on new responsibilities reflects Temasek's aim to help them learn and gain more exposure."
Mr Song noted too that Mr Pillay's appointment shows that he is likely being groomed for big things at Temasek. "It certainly gives that impression, with the additional responsibilities."
Mr Pillay is Temasek's head of the Americas. He is also the joint head of the enterprise development group, investment group and Singapore.