Temasek’s Co-Chief Investment Officer and Senior Managing Director of special projects, Mr. Gan Chee Yen, will be the next Chief Executive Officer of Fullerton Financial Holdings, the Singapore’s independent organization unit, which invests in banks.

The present Chief Executive, Francis Rozario, will be resigning from the office by the end of July this year. The reason of his resignation was not known, but he will remain associated with the organization as an advisor to Fullerton’s financial board, revealed Tan Yong Meng, Spokesman of Temasek.

On the other hand, Temasek’s Executive Director and President, Hsieh Fu Hua, will be supervising the Singapore-owned investment company’s Fullerton Fund Management Co. as the unit demanded a CEO. Fullerton Financial invests in financial institutions in emerging markets and its holdings include stakes in China Construction Bank Corp. and India’s ICICI Bank Ltd.

Temasek is a company that spends on promising markets like China, India, Brazil and Mexico, as developing nations led the global economy’s recovery from its worst recession since World War II. Presently Temasek’s value of its assets has increased by 3.8%, amounting to $193 billion and the profits had doubled the value of its holdings. The percentage of financial services in Temasek’s portfolio rose to 36 %from 35 %last fiscal year.