Deputy Prime Minister Teo Chee Hean, who was speaking at a global Indian Institutes of Management (IIM) alumni event, observed that companies are increasingly giving more heed to the need to attract and develop a robust leadership talent pool. Business schools are also transforming to meet the growing need for this new breed of global executives and are also globalising, Mr Teo noted. This includes setting up overseas campuses and forming foreign partnerships to enable the exchange of insights. "We are happy that IIM Bangalore has recently inked a management research and education partnership with the Singapore Management University," he added.