Latest news with #SeatownHoldings

Business Times

Temasek's Gabriel Lim to lead Seviora Holdings as CEO

[SINGAPORE] Temasek Holdings' head of corporate strategy Gabriel Lim will exit his post to lead the Temasek-owned asset management group Seviora Holdings, the group announced in a statement on Tuesday (Apr 29). Lim will join the group on May 1 as designated chief executive officer, and will also be appointed to the board. He will assume the position of CEO on Sep 1, 2025. He will replace current CEO Jimmy Phoon, who joined Seviora in 2020 from asset management firm Seatown Holdings, which is wholly owned by Seviora Group. Phoon will retire when Lim assumes the role, but will remain on the group's board to ensure a smooth transition, said Seviora. Temasek established the Seviora Group in October 2020 with an initial S$75 billion of assets under management. The group, wholly owned by Temasek, acts as the operational holding company for five asset managers affiliated to the state investment firm. These are Azalea Investment Management, Fullerton Fund Management, InnoVen Capital, Seatown Holdings and Seviora Capital. The group operates primarily in Singapore, India, China, Indonesia and the United Arab Emirates, providing global investors access to public and private markets. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Lim will work with Seviora's board and management to drive the 'next phase of growth' for the group, the statement said. 'This includes raising the group's assets under management, improving returns and expanding the range of investment solutions for investors,' the group added. Lim joined Temasek in October 2024, having previously served as permanent secretary of policy at the Ministry of Trade and Industry (MTI). At Temasek, Lim led the company's corporate strategy function with joint-head Lim Ming Pey. In his 24 years in the public service from 2000, Lim served appointments across various ministries, including as principal private secretary to then prime minister Lee Hsien Loong from 2011 to 2014. In 2014, Lim led the former Media Development Authority as chief executive, before joining the former Ministry of Communications and Information in 2016 as permanent secretary. He was then appointed permanent secretary of MTI in 2019. 'Lim's extensive experience in strategy development and stakeholder engagement will be an asset to the firm,' said Seviora chairman Goh Yew Lin.