Singapore's sovereign wealth fund is poaching a top executive from telecom firm Singtel in a newly-created technology role. The move aims to bolster to fund's expertise in disruptive technology.
Singapore's GIC said that Wu Choy Peng began as its technology chief on Monday. She is a Singapore tech veteran who spent the last five years as information chief at Singtel, the domestic telecom provider.
«Wu Choy Peng will play a crucial role in developing GIC’s technology vision, strategic direction and future growth in technology to strengthen organizational capabilities,» the GIC said in a statement.
Specifically, Wu will provide integrated oversight for technology and data analytics, the fund said.
Singapore, Inc.
The University of Michigan graduate has spent almost her entire career working as a civil servant or for government-owned firms government-owned firms such as shipping company Neptune Orient Lines.
Among the GIC's notable recent moves have been to sell a billion-dollar stake in Swiss bank UBS at an embarrassing loss and to buy a stake in data intelligence firm MergerMarket and another in talent agency WME-IMG.
GIC said Wu's new role was created as the fund «prepares for an environment of increasing disruptive innovation.»
