Lim Chow Kiat will become CEO of GIC Pte. Ltd., the Singapore sovereign wealth fund with estimated assets of more than $300 billion, effective Jan. 1, according to a GIC news release Monday.
Mr. Lim replaces Lim Siong Guan, who will retire as group president. He will then become adviser to GIC's group executive committee.
Lim Chow Kiat currently serves as deputy group president and group chief investment officer. Jeffrey Jaensubhakij will take on the role of group CIO, the news release said.
Mr. Jaensubhakij currently serves as deputy group CIO and president, public markets.