SINGAPORE Technologies Engineering : S63 0% (ST Engineering) announced on Thursday (May 9) that it will appoint Philip Lee to its board as an independent non-executive director, with effect from Jun 1. 

The 62-year-old was chairman of the Health Promotion Board (HPB) from April 2017 until March this year, when he retired from the role. Sembcorp Industries group president and chief executive Wong Kim Yin has since taken over as HPB’s chairman. 

ST Engineering said that its board was of the view that Lee “will be able to contribute an independent financial and commercial perspective” to its deliberations, given his leadership experience in the banking sector.

Lee is also HSBC’s vice-chairman of global banking (South-east Asia), and has been with the bank since 2019.

Before joining HSBC, he was vice-chairman for South-east Asia and chief country officer at Deutsche Bank, Singapore, from 2013 to 2018. 

Prior to that, he spent 18 years with JPMorgan, where he served as CEO of its South-east Asia investment banking operations. He was also the senior country officer for JPMorgan’s Singapore franchise.

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He currently serves as an independent director on the boards of SPH Media, Savills and Heliconia Capital Management.

Shares of ST Engineering closed flat at S$3.91 on Thursday before the announcement.