Singapore-based investment firm Temasek said Friday that it has named Dr. Wu Yibling to head its China operations. The appointment is effective October 1, 2013. Dr. Wu will succeed Ding Wei who will become advisory senior director for China. Currently, Dr. Wu is the chairman and CEO of Gladstone Investment Co., the investment unit of China’s CITIC Securities. He is also the president of CITIC Private Equity Funds Management.
Singapore, 13 September 2013 – Temasek Holdings (Private) Limited (“Temasek”) announces the appointment of Dr Wu Yibing as Head for China, with effect from 1 October 2013. Dr Wu will succeed Mr Ding Wei who will take on the appointment as Advisory Senior Director for China with Temasek with effect from 1 October 2013.
Dr Wu will work together with Mr Chia Song Hwee, Temasek’s Co-Head for China, to build on Temasek’s presence in China as a long term, active investor in successful enterprises.
Dr Wu is currently the Chairman and CEO of Goldstone Investment Co. Ltd, the direct investment arm of China’s CITIC Securities, and concurrently the President of CITIC Private Equity Funds Management. He has a wide range of investment experience and expertise in the financial, energy, consumer and technology sectors.
Mr Ding, who has requested to work in an advisory capacity so that he has the flexibility to pursue his other interests, will continue to help further strengthen Temasek’s network and relationships in China and offer perspectives on the country’s macro environment.
More about Dr Wu Yibing
Dr Wu Yibing, 46, is currently a non-executive director of Lenovo Group and NOL Group. He also serves on the board of China Social Entrepreneur Foundation.
Dr Wu began his career with McKinsey, rising to become Senior Partner and Head of Asia Pacific M&A Practice. He was also General Manager of McKinsey Beijing, where he was responsible for providing M&A, corporate restructuring and IPO advisory for large Chinese enterprises. He had advised a number of leading Asian companies in their international expansion effort.
He subsequently joined the Lenovo Group, and led the acquisition and integration of the IBM PC business, serving as Chief Strategy Officer, Chief Integration Officer, Chief Transformation Officer/ Chief Information Officer of Lenovo Group.
Dr Wu was later appointed to Lenovo parent Legend Holdings, as Executive Vice President responsible for the overall business operations and overseeing its direct investment business. During his tenure at Legend, he successfully led the equity investments in financial, energy and consumer sectors as well as a number of growth capital investments in new energy and high-tech arena.
Dr Wu presently holds concurrent roles as Chairman and CEO of Goldstone Investment Co. Ltd., the direct investment arm of CITIC Securities, and President of CITIC Private Equity Funds Management, a position he has held since December 2009.
Dr Wu will join Temasek with effect from 1 October 2013, as Senior Managing Director, and Head, China.
Dr Wu holds a PhD in Biochemistry from Harvard University and a BSc. in Molecular Biology from University of Science and Technology of China.
More about Temasek
Incorporated in 1974, Temasek is an investment company based in Singapore, with 11 affiliates and offices in Asia and Latin America. Temasek owns a S$215 billion portfolio as at 31 March 2013, with 71% of its underlying assets in Asia (including Singapore), and 25% in the mature economies of North America, Europe, Australia & New Zealand.
Temasek’s investment themes centre on:
Growing Middle Income Populations
Deepening Comparative Advantages
Temasek’s portfolio covers a broad spectrum of industries: financial services; transportation, logistics and industrials; telecommunications, media & technology; life sciences, consumer & real estate; energy & resources.
Total shareholder return since inception in 1974 has been 16% compounded annually.
The company has had a corporate credit rating of AAA/Aaa since its inaugural credit rating in 2004, by rating agencies Standard & Poor’s and Moody’s respectively.
For more information on Temasek, please visit www.temasek.com.sg