Raymond Lim was appointed executive chairman of Singapore-based APS Asset Management.
The position is new at the Asia-Pacific equity boutique, which had $2.7 billion in assets under management as of Sept. 30, said Wong Kok Hoi, the firm's founder and chief investment officer, in a telephone interview.
Mr. Lim had been non-executive chairman at APS since January 2013, while serving as a politician in the ruling People's Action Party. He retired from politics in August.
Mr. Wong said Mr. Lim, who over a 30-year career has served at institutions such as the International Monetary Fund and Singapore's GIC, will provide a number of roles in building APS' business, from helping set the firm's strategy to meeting key clients.
The firm's China A-shares strategy had AUM of roughly $2 billion as of Sept. 30, while its long/short equity strategy had just more than $540 million, said an APS news release Wednesday.
APS has offices in Singapore, Shanghai, Shenzhen, Beijing, Tokyo and New York.
