The creation of an Asia Advisory Board further reflects Westpac’s considered and deliberate strategy in Asia and will advise management on its strategies and initiatives to continue to strengthen the businesses current positioning in Asia, the firm said in a statement.

The advisory board will comprise of three non-executive members including: Bala Swaminathan, general manager, Asia and Rob Whitfield, chief executive of Westpac Institutional Bank.

Previously appointed minister for the Prime Minister’s office in 2009, Lim served as second minister for finance and second minister for transport and was the first female minister of Singapore’s cabinet. During her time in government, Lim led reforms across the accounting sector, addressing capital and growth needs of the small and medium enterprises, the firm said.

Prior to her political career, Lim had a served in financial services. In 1989, she joined Swiss Bank Corporation as an investment analyst and in 1992 she joined Jardine Fleming, where she served as head of research and director of business development. In 2000, she joined Temasek Holdings as managing director of corporate stewardship and later as managing director of strategic relations.

Westpac has been operating in Asia for 40 year with branches in Singapore, Shanghai, Beijing, Hong Kong, Mumbai, as well as a representative office in Jakarta.