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GIC announces senior appointments (Amended)

The changes are aimed at strengthening the investment capacity of the sovereign wealth fund

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GIC's current group chief investment officer (CIO) Lim Chow Kiat will be appointed deputy group president and serve in both positions concurrently.

Singapore

SINGAPORE sovereign wealth fund GIC yesterday unveiled a slew of senior leadership appointments, which it says "will strengthen its investment capacity".

Its current group chief investment officer (CIO) Lim Chow Kiat will be appointed deputy group president and serve in both positions concurrently.

He has been group CIO since February 2013, having served previously as president of GIC Public Markets and president (Europe); in the latter position, he oversaw GIC's investment activities and business relationships in Europe.

GIC also announced that its current president of Public Markets Jeffrey Jaensubhakij will be appointed deputy group CIO, while keeping his current position.

He has been president of Public Markets and director of Equities at GIC since April 2013.

GIC's Lim Kee Chong remains as its deputy group CIO and director of its Integrated Strategies Group; Tay Lim Hock remains as its president of Private Equity & Infrastructure, while Goh Kok Huat stays on as its president of Real Estate and chief operating officer.

GIC also announced the creation of new senior investment positions "to enhance GIC's investment capability".

Its president of Europe, Ang Eng Seng, who oversees GIC's investments and relationships in Europe from his base in London, will also take on the new position of CIO for Infrastructure.

Choo Yong Cheen, GIC's global head of Direct Investments for Private Equity will be made its CIO for Private Equity.

Lee Kok Sun, regional head of Americas for Real Estate, will be made CIO for Real Estate. Now based in New York, he manages the real-estate investment strategy and real-estate portfolio assets in the Americas.

Liew Tzu Mi will be CIO for Fixed Income. She is currently head of Fixed Income, overseeing fixed income and macro strategies, head of Global Macro Investments and chairs the investment committee for Fixed Income.

Bryan Yeo, deputy head of Equities and advisor to the Credit Markets group, will be made CIO for Public Equities.

The new appointments take effect on June 1.

Lim Siong Guan, group president of GIC, said of the appointments: "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. The appointment of chief investment officers reflect the maturing of GIC's investment talent, and the strengthening of GIC's capacity to deal with an investment environment of lower returns, increased volatility and greater uncertainty."

An earlier version of this story incorrectly stated, based on GIC's press release, that Choo Yong Cheen is GIC's global head of Direct Investments for Private Equity and head of Direct and Fund Investments for Private Equity in Europe. GIC has since corrected this to state Mr Choo is currently serving only as global head for Direct Investments. The story above has been revised to reflect this.