Temasek Cuts Compensation for Team Behind FTX Investment
Following the collapse of the FTX exchange in November 2022, Temasek had to write down its $275 million investment in the company. Soon after, the Singapore state investor issued a review of its investment in the exchange In a statement posted on the company’s official website, Temasek Chairman Lim Boon Heng said: advertisement “Although there was no misconduct by the investment team in reaching their investment recommendation, the investment team and senior management, who are ultimately responsible for investment decisions made, took collective accountability and had their compensation reduced”. However, the Singapore-based investment firm hasn’t detailed the amount of compensation cut for the senior management team behind the FTX investment. As of March 31, 2022, Temasek’s assets under management stood at S$403 billion ($304 billion). Thus, the cost of its investment was 0.09% of its net portfolio. Interestingly, before the c...