Temasek, the Singaporean sovereign wealth fund, has added a former World Bank chief to its board of directors as it prepares to open its first office in the US.

Robert Zoellick, also an ex-US trade representative during the George W Bush administration, is said to be the most high-profile non-Singapore to be part of the 10-strong Temasek board. The decision comes as the firm seeks to increase its investments outside of Asia, which currently accounts for at least 70 per cent of its assets under management. 

Zoellick officially steps in on 15 August. He is also the first new appointee under Lim Boon Heng, who assumes the role of chairman on 1 August. Temasek has yet to provide details on its US office plans but said it is happening "in the near future."