Temasek Holdings’ executive director and chief executive officer Ho Ching is returning to the Singapore’s state-owned investment firm in her existing roles after a six-month part-time sabbatical as it moves into its next phase of development.
Ho will return in late October and will also take the role of chairman of Temasek International (TI), the company’s wholly-owned management arm, according to a statement by Temasek released on Wednesday. Ho took a leave in April after her husband, Singapore prime minister Lee Hsien Loong, underwent surgery for prostate cancer.
As of Thursday, Lee Theng Kiat, who was president of TI while Ho was away, will become chief executive of TI, which supports the larger Temasek group’s corporate and business objectives.
“He will oversee Temasek’s commercial strategies and portfolio, and build up the management and operational capabilities at TI to support the next phase of Temasek’s development and deliver sustainable long term returns,” the statement said.
Prior to joining Temasek in 2012, Lee was the president and CEO of telecommunications investor ST Telemedia and has held several senior roles in aerospace engineering firm Singapore Technologies.
Last year, Temasek transfered 100 percent of its interests in Equistone Partners Europe and PAI Partners funds to Astrea II, a co-investment vehicle of about $1 billion in size that it created with other firms and that is managed by Ardian, one of several co-investors in the fund.
Temasek, which opened offices in London and New York last year, had S$266 billion ($186 billion; €167 billion) of assets under management as of 31 March.