Singapore sovereign wealth fund GIC has appointed a new Chief Executive Officer and calibrated its management structure both in Singapore and overseas.
With effect from 1 January 2017, Lim Chow Kiat will take on the role of Chief Executive Officer (CEO). He is currently the Deputy Group President and the Group Chief Investment Officer.
Current Group President Lim Siong Guan will retire, and be appointed Advisor to the GIC Group Executive Committee on 1 January 2017.
Also taking effect on 1 January 2017 are a number of management changes namely:
Jeffrey Jaensubhakij will be the Group Chief Investment Officer, taking over from Lim Chow Kiat. Jaensubhakij will relinquish his current role as Deputy Group Chief Investment Officer and President, Public Markets.
Lim Kee Chong (pictured) will remain as Deputy Group Chief Investment Officer and Director, Integrated Strategies Group, and take on the concurrent appointment of President (Americas), based in New York. Goh Kok Huat continues as Chief Operating Officer, with his concurrent appointment as Advisor, Real Estate. He will relinquish his current role as President, Real Estate.
Tay Lim Hock will be appointed Deputy Group Chief Investment Officer and take on the concurrent appointment of President (Europe), based in London. He will also be Advisor, Private Equity & Infrastructure, and relinquish his current role as President, Private Equity & Infrastructure.
Singapore Prime Minister Lee Hsien Loong, who is Chairman of GIC, commented on the management changes and paid tribute to the outgoing CEO saying that since 2007 Lim Siong Guan had made enormous contributions to GIC, he groomed a new generation of professional leaders, built up a fit and flexible organizational structure, and imbued the GIC team with sound values and ideals.
