The International Valuation Standards Council (IVSC) has appointed Mrs. Lim Hwee Hua as Chair of the IVSC Board of Trustees, effective June 2024.
The International Valuation Standards Council (IVSC) has appointed Mrs. Lim Hwee Hua as Chair of the IVSC Board of Trustees, effective June 2024. Mrs. Lim has been a trustee since June 2020 and brings a rich background in politics, finance, and global business leadership to her new role.
Mrs. Lim’s distinguished career includes serving in the Singapore Parliament from December 1996 until May 2011. Her tenure in politics peaked as she became Minister in the Prime Minister’s Office and concurrently served as the Second Minister for Finance and for Transport. On April 1, 2009, she made history as the first woman to hold a cabinet position in Singapore. Her parliamentary roles also included Deputy Speaker and Chair of the Public Accounts Committee.
In her financial career, Mrs. Lim was pivotal in spearheading reform across various sectors. At the Finance Ministry, she led the overhaul of the accountancy sector, scrutinized government business investments, and supported financing initiatives for SMEs. At the Transport Ministry, she was crucial in corporatizing Changi Airport, developing a comprehensive aviation master plan, and expanding Singapore’s International Maritime Centre.
Mrs. Lim also held significant positions in the banking and investment sectors, including at Swiss Bank Corporation, Jardine Fleming, and as Managing Director at Temasek Holdings from 2000 to 2004. Her academic credentials are equally impressive, holding an honors degree in Mathematics and Engineering from the University of Cambridge and an MBA in Finance from the Anderson School of Management at UCLA.
Since stepping away from politics, Mrs. Lim has remained influential in finance through her roles in private equity and as a board member of several significant financial institutions like Tembusu Partners, Asia Pacific Exchange, and United Overseas Bank. She also served as a Senior Advisor to Kohlberg Kravis Roberts for 12 years and was part of the Global Advisory Council of Ernst & Young for three years.
She succeeds Lord Alistair Darling, the former UK Chancellor of the Exchequer, whose tenure saw crucial developments in the global valuation standards landscape. Mrs. Lim’s leadership comes at a pivotal time as the IVSC aims to expand its influence in Asia, a process she has been instrumental in as Vice-Chair since the establishment of the IVSC’s Asia office in 2022.
