GIC Reshuffles Leadership, Adds New CIOs

Lim Chow Kiat, GIC (Art by Tim Bower)Singapore’s sovereign wealth fund GIC has announced a management reshuffle involving the appointment of five new CIOs to oversee each of its main asset classes.

Group CIO Lim Chow Kiat has been named deputy group president in addition to retaining his current position. President of Public Markets Jeffrey Jaensubhakij becomes deputy group CIO.

“The new senior appointments enhance the development of a strong leadership bench for GIC, allowing us to build new investment capabilities and extend our investment and operating platforms,” said Lim Siong Guan, GIC’s group president.

Lim Chow Kiat has been GIC’s group CIO since February 2013, when he succeeded the fund’s inaugural CIO Ng Kok Song. Previously, he served as president of GIC’s European arm and president of public markets.

Jaensubhakij previously worked on public markets strategies as well as total return and US equities for GIC.

GIC, among the largest sovereign wealth funds in the world, created five new CIO positions “to enhance GIC’s investment capability.” Ang Eng Seng will head up infrastructure investments, Choo Yong Cheen private equity, Lee Kok Sun real estate, Liew Tzu Mi fixed income, and Bryan Yeo public equities.

“The appointment of CIOs reflect the maturing of GIC’s investment talent, and strengthening of GIC’s capacity to deal with an investment environment of lower returns, increased volatility, and greater uncertainty,” Group President Lim continued.

Moves within current leadership as well as new appointments will be effective June 1.

Related: GIC: Investors Should Unite Against Short-Termism & Class of 2013: Lim Chow Kiat