IVSC board names first Asian and female chair

Lim Hwee Hua previously served as minister of the Singaporean government. 

The International Valuation Standards Council (IVSC) announced that former minister Lim Hwee Hua will lead its board of trustees starting in June.

She will be the first Asian and first female to hold the post. She will succeed former UK Chancellor of the Exchequer Lord Alistair Darling.

Lim, who has been a trustee of the council since June 2020, has made significant contributions during her political career. 

She was elected to the Singapore Parliament in December 1996 and served until May 2011. She served as minister in the prime minister’s office, concurrently holding positions as second minister for finance and transport. 

Lim was also the first woman to serve in Singapore’s Cabinet. Her parliamentary contributions also include roles as deputy speaker and chair of the public accounts committee.

Aside from public office, she also played various roles in the private sector, including senior positions at Swiss Bank Corporation, Jardine Fleming, and Temasek Holdings.

After retiring from politics, Lim served as a board member of Tembusu Partners,  Asia Pacific Exchange and United Overseas Bank. She was also a senior advisor to Kohlberg Kravis Roberts for 12 years and served on the Global Advisory Council of Ernst & Young for three years.

IVSC Chief Executive Nicholas Talbot said Lim’s appointment “marks a significant milestone.”

“In her new role, she will continue to drive international efforts to elevate valuation practices in all regions,” he added.