Singapore's GIC announces high-level investment appointments
By Douglas Appell | February 28, 2013 11:56 pm
Jeffrey Jaensubhakij was named president of GIC Asset Management, the public market investments arm for the Government of Singapore Investment Corp.’s more than US$100 billion investment portfolio, effective April 1, according to an announcement posted on the sovereign wealth fund's website Friday.
Mr. Jaensubhakij will replace Lim Chow Kiat, who was named the GIC’s group chief investment officer on Feb. 1.
With the appointment, Mr. Jaensubhakij will move to Singapore from London, relinquishing his current position at GIC as president (Europe).
Ang Eng Seng will replace Mr. Jaensubhakij as president (Europe), and will move to London from Singapore, where he currently serves as GIC Special Investment’s global head for the direct investments group. A GIC spokeswoman said no information is available at this point regarding plans to fill Mr. Ang’s current position.
Lim Kee Chong, meanwhile, was appointed deputy group chief investment officer, replacing Lim Chow Kiat. Currently, Lim Kee Chong serves as deputy president of GIC Asset Management and director of global equities. The GIC spokeswoman said Mr. Jaensubhakij, in his new role as president of GIC AM, will assume the responsibilities Lim Kee Chong has overseen as director of global equities. She said there is no information on plans to fill the role of deputy president of GIC AM.
Lim Kee Chong will also take on the title of director of integrated strategies. The integrated strategies group was formed a year ago to “facilitate group-wide investments by sourcing, evaluating and coordinating investments which are cross-asset class in nature,” according to Friday’s announcement on GIC’s website. The GIC spokeswoman said Lim Kee Chong has held those responsibilities since the group was set up, but the title of director of integrated strategies is new.