Ayala CEO Joins Temasek Board

Ayala Corp. Chairman and CEO Jaime Augusto Zobel de Ayala will join the Board of Directors of Temasek Holdings, a fund that invests solely in equities with a portfolio of $381 billion as of the first quarter this year.

Photo Insert: Ayala CEO Jaime Augusto Zobel de Ayala

Zobel's entry into the board of Temasek Holdings will start next January at which time he will join another new director, Tan Chee Meng

Temasek Holdings said the directorships to the two followed the appointments of Ajay Banga from 1 October 2021 and Ms. Jenny Lee from 1 January 2022, which were announced by the company on 30 September 2021. The appointments continue a planned process of transition and renewal of the Board, following a number of retirements over the last two years.

Mr. Zobel de Ayala is the Chairman of Ayala Corporation, one of the largest business conglomerates in the Philippines.

He served as Chairman and CEO of the Group from April 2006 to April 2021. He is a distinguished member of various business and civic organizations in the Philippines and beyond, including the JP Morgan International Council, the JP Morgan Asia Pacific Council, the Mitsubishi Corporation International Advisory Council, LeapFrog Investments’ Global Leadership Council, and the board of the Singapore Management University.

He was the first Sustainable Development Goals (SDGs) Pioneer from South East Asia; one of 10 individuals recognized in 2017 by the United Nations Global Compact for the pursuit of the 17 SDGs in business.

Tan Chee Meng SC is the Deputy Chairman of WongPartnership LLP, one of Singapore’s largest law firms, and a Director of Ausnet Services Limited.

His specialties include general civil litigation, construction and engineering dispute resolution, criminal law, insurance, and professional indemnity. He was the first Specialist Judge appointed in Singapore in 2006 for a period of two years under a scheme where senior lawyers were invited to lend their expertise to the Subordinate Courts.

He moved to legal practice after starting his career as an engineering graduate. After being awarded a Singapore Government Legal Scholarship, he read law at the National University of Singapore and University of Cambridge, UK, before joining the Commercial Affairs Department.

Announcing the appointments was Temasek Chairman, Lim Boon Heng, who said the Board would benefit from the skills and experience of its new members

“Jaime and Chee Meng are pre-eminent leaders in their fields and professions. However, beyond their professional areas, they are both deeply committed to their communities, which is important to Temasek given our wider stewardship role. Together with Jenny, who joins the Board on the same day, we look forward to the contribution each of these leaders will make to the future development of our firm,” Lim said.

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