Singapore Prime Minister Lee Hsien Loong today named finance minister and chosen successor Lawrence Wong as his new deputy effective next week, paving the way for him to become the city state's next leader.

Wong, 49, was picked in April as leader of the People's Action Party's (PAP) so-called fourth generation team but the timeframe for a change in power in the ruling party remains unclear.

Lee, 70, has previously said Wong would...