SINGAPORE sovereign wealth fund GIC announced on Thursday the appointment of two new board directors.

Lawrence Wong, Minister for National Development and the Second Minister for Finance, was appointed to the board on Nov 1.

He will be joined on the GIC board by Seck Wai Kwong, chief executive officer of Asia-Pacific at State Street Bank and Trust Company, on Nov 9.

Mr Wong has been a member of the GIC Investment Strategies Committee, which oversees the fund's performance and risk profile and makes appropriate recommendations to the board on investment policy, since August 2017.

Mr Seck previously served on the GIC Risk Committee from 2010 to 2016.

GIC chief executive officer Lim Chow Kiat said: "We are very pleased to welcome Mr Wong and Mr Seck as directors on the GIC Board. Mr Wong has an economics background and has served in trade, economics and finance roles, among others. Mr Seck has extensive experience in global investment markets, banking and finance, and asset management functions. We will benefit from their wealth of knowledge and leadership insights."