How Many Presidents Does it Take to Run a SWF?

Ashby Monk

If you’re Temasek Holding, the answer to the above question is apparently three:

  • One to oversee institutional and capacity building initiatives (Mr Hsieh Fu Hua);
  • One to provide leadership in value creation and oversee engagement with Australia and New Zealand (Mr Simon Israel);
  • And one to oversee Temasek’s interests in financial services as well as support its strategic engagement in the Americas (Mr Gregory Curl).

According to the Temasek press release:

“Hsieh Fu Hua, Simon Israel and Greg Curl will work in close partnership with Temasek CEO Ho Ching to support the Temasek senior leadership team to build a sustainable institution that creates and delivers long term shareholder value.”

All three Presidents will be at work by September 1, which will take some of the workload off of Ho Ching. Recall that Ho was looking to step down from her position of CEO almost a year ago when the Goodyear fiasco forced her to stay on. So, I’m guessing this new troika of Presidents is as much a “try out” for potential successors as anything else. So, who’s it going to be? Which one of these Presidents will become Temasek’s next CEO? There can be only one…

3 Responses to “How Many Presidents Does it Take to Run a SWF?”

  1. 1 Prof. Bruce W Bean August 20, 2010 at 10:35 am

    Could it be that some presidents are more equal than others? This makes it appear that there is a contest. We shall see how real this charade turns out to be.

    • 2 Ashby Monk August 20, 2010 at 10:48 am

      True enough! Temasek has never had a foreign born CEO, which would seem to favor Hsieh Fu Hua. We’ll see though, these are different times…

  2. 3 Victoria Barbary August 22, 2010 at 10:50 am

    Although, it could be said that the fact that two of the three aren’t native Singaporeans that Temasek are favouring a foreign born CEO.

    Plus, this is a good way of ensuring that there’s not a similar fiasco next time around – at least whoever takes over will know what he’s getting himself into…

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This website is a project of Professor Gordon L. Clark and Dr. Ashby Monk of the School of Geography and the Environment at the University of Oxford. Their research on sovereign wealth funds is funded by the Leverhulme Trust and The Rotman International Centre for Pension Management.

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