Business

Ex-Temasek exec Rozario forms advisory firm

January 29, 2013

Francis Rozario left Temasek’s Fullerton Financial Holdings unit in the middle of 2011 after working at the state investor for about eight years. — AFP picFrancis Rozario left Temasek’s Fullerton Financial Holdings unit in the middle of 2011 after working at the state investor for about eight years. — AFP picSINGAPORE, Jan 29 — Francis Rozario, who spearheaded Singapore state investor Temasek Holdings Pte Ltd’s investment in Asian banks, has set up his own advisory firm to serve financial institutions.

Rozario told Reuters he had co-founded Singapore-based Asia Capital and Advisors Pte Ltd with Leslie Menkes, who headed Morgan Stanley’s onshore private banking business in Asia.

A former Citigroup executive, Rozario left Temasek’s Fullerton Financial Holdings unit in the middle of 2011 after working at the state investor for about eight years.

Fullerton’s successes included its early investments in China Construction Bank and Bank of China , whose share prices have soared since their Hong Kong flotations. But it also suffered major setbacks, such as its investment in Pakistan’s NIB Bank, which soured.

Rozario was among a number of senior executives who left Temasek over the last two years, paving the way for other high profile hires by Temasek such as former UBS finance chief John Cryan. — Reuters

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