People Moves

Phoon takes over CEO role at Singapore’s Seatown

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A recent announcement from Singapore’s Temasek Holdings on the joint departures of the two co-CEOs of its Seatown Holdings hedge fund subsidiary triggered speculation as to what might be happening inside the government-controlled entity.

Jimmy Phoon is taking over the reins as the new CEO of Seatown, while also remaining Temasek’s head of strategy. Stephen Forshaw, managing director for corporate affairs at Temasek International, says that Phoon’s appointment to the CEO post is not a temporary arrangement but part of the regular rotation of senior staff within the Temasek Group.

Former co-CEO Charles Ong will return to Temasek,