Former World Bank President Robert Zoellick was today appointed to the board of directors of Singapore's leading corporate investor Temasek Holdings, as it seeks a bigger presence in the US and Europe.
"His appointment to our Board also comes at an opportune time as Temasek sets out to establish its first US office in the near future. His insights will be especially helpful as we continue to explore opportunities in USA, Europe and also in the various growth markets", Temasek Chairman and former Singapore Minister Lim Boon Heng, said in a statement.
Zoellick, 60, described Temasek as a "well-regarded international investor".
"Its commitment to strong corporate governance principles is very important to set the tone in international investing," he said.
The appointment will take effect from August 15 this year.
He was President of the World Bank from July 2007 through June last year and has also served the US government in various roles, including as Trade Representative and Deputy Secretary of State.
Zoellick takes over from S Dhanabalan, also a former minister who retired from Temasek, whose chief executive is the wife of Singapore's prime minister.
Zoellick's appointment is Temasek's highest profile board appointment. An earlier attempt to attract international talent in the form of former BHP Billiton boss Chip Goodyear backfired because of differences over investment strategy.
