The chief executive's decision to step down after nearly 17 years ends an era of rapid evolution. New CEO Dilhan Pillay will need to accelerate Temasek's move into modern areas.
The Singapore fund's big exposure to China bank stocks hit its returns last year. Meanwhile, it aims to further boost its tech sector exposure, including by opening a San Francisco office.
The issue of a succession plan for Temasek boss Ho Ching has reared its head once more, following a management restructuring at the Singapore state investment firm.
The Singapore state fund has promoted internally to fill the role of chief executive of its management arm Temasek International, previously part of Temasek Holdings boss Ho Ching's remit.
Ho Ching will step down from most of her duties at the Singaporean sovereign wealth fund for three months, but the firm refused to give a reason for her absence. It follows the death of her father-in-law Lee Kuan Yew.
AsianInvestor profiles Archana Hingorani from IL&FS Investment Managers and Ho Ching from Temasek from our list of the most influential women in asset management.