Singapore Sovereign Fund Names Strategy Exec. CEO Of Hedge Fund

Jul 28 2011 | 11:43am ET

The hedge fund created by Singapore's sovereign wealth fund will have a new top executive on Monday.

Temasek Holdings said today that Jimmy Phoon would take over as CEO of Seatown Holdings on Aug. 1. He succeeds Charles Ong and Nasser Ahmad, the hedge fund's first CEOs, who announced their plans to leave Seatown earlier this month.

Phoon is currently head of strategy at Temasek. He'll retain that role in addition to running the US$2.9 billion hedge fund, founded a year-and-a-half ago.

Ong will remain with Temasek, becoming senior managing director of special products. Ahmad, the founder of hedge fund DiMaio Ahmad Capital, will remain an adviser to Seatown through the end of the year. He plans to return to fund management, Temasek said.

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