Lee Hsien Loong was named chairman of the board at Government of Singapore Investment Corp., the country’s sovereign wealth fund, effective Wednesday, according to the fund’s website.
The fund doesn’t disclose its assets, but size of the fund is estimated at $247.5 billion by the Sovereign Wealth Fund Institute.
He is deputy chairman of GIC and prime minister of Singapore.
Mr. Lee will replace his father, Lee Kuan Yew, who will retire as chairman and director of the board. The elder Mr. Lee will serve as a senior adviser to the fund after stepping down from the board.
GIC spokeswoman Jennifer Lewis could not be reached for further information.
Bloomberg contributed to this story.