TEMASEK Holdings has set its sights on Latin America, appointing two investment heads to lead its charge into the fast-growing region.

The Singapore investment company said yesterday it had roped in veteran investment banker Lorenzo Bosco as its investment managing director for Mexico.

It is also sending Mr Alan Thompson, appointed Latin America investment managing director in October, to Brazil.

'We believe the Latin American region holds long-term potential and offers attractive investment prospects,' said senior managing director and chief investment officer Tow Heng Tan in a statement yesterday.

The new Latin American focus should help Temasek's goal to further diversify its investments geographically away from its historical emphasis on Singapore and Asia.

According to its latest annual report published last year, Temasek's presence in Latin America had been limited to a 'small portfolio exposure'.

As at March 31 last year, Temasek's portfolio stood at $164 billion. Of this, just 2 per cent was invested in developing countries outside Asia. Much of its holdings - 38 per cent - were in Singapore, with another 40 per cent in Asia, excluding Japan. The remainder was invested in developed economies.

Mr Tow did not reveal any investment goals for the firm's new geographical focus, saying it 'does not seek to target any specific investment amount of capital within any given timeframe'.

'Temasek takes a long-term view on our investments. We will look seriously at opportunities that arise.'

Mr Bosco, 45, joins Temasek from the Mexican arm of Barclays Capital, of which he was president and chief executive.

He started his career with Citibank before moving to Bank of America in 1987 to start its operations in his home country, Mexico.

He will be based in Mexico City, taking responsibility for investment research and advisory activities in Mexico.

He will work with Mr Thompson, 48, who is moving from Singapore to Sao Paulo later this year.

Mr Thompson, a South African, was previously value management managing director before his latest appointment.

'We are pleased to have Lorenzo's deep expertise and proven track record to support our commitment to Mexico and the region,' said Mr Tow.

'Together with Alan's impending move to Brazil, we expect to gradually increase our portfolio exposure in Brazil, Mexico and the rest of the Latin American region.'

bryanlee@sph.com.sg

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PIVOTAL ROLES

Mr Alan Thompson will lead Temasek's operations in Brazil. The firm has also enlisted the services of Mexican banker Lorenzo Bosco.

PROMISING REGION

'We believe the Latin American region holds long-term potential and offers attractive investment prospects.'

MR TOW, on Temasek's new focus