The chief investment officer of Temasek has left the Singapore state-owned investment vehicle.

Jimmy Phoon, a senior managing director who had been with Temasek for eight years, said yesterday he will take up an advisory position with a local investment firm next month.

Mr Phoon was instrumental in Temasek’s aggressive expansion overseas, as the firm built up interests in Asian banks and telecoms companies.

Temasek, which has stakes in Barclays and Standard Chartered, as well as several Chinese banks, insists on a say in the management of companies in which it has shares.

Mr Phoon was charged with managing the fallout of the acquisition of Shin, the Thai telecoms group sold by ousted Prime Minister and Manchester City owner Thaksin Shinawatra. The sale sparked the political crisis in Bangkok that led to the military coup that deposed Mr Thaksin. Temasek’s profits were hit by an impairment charge related to the takeover.

Mr Phoon said: “Having spent eight eventful years at Temasek, I feel it is a good time to take a break.”

Last month he was appointed a board member at microchip packaging and testing group Stats.

Temasek said Tow Heng Tan, currently co-chief investment officer, would succeed Mr Phoon.

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