GIC, the sovereign wealth fund of Singapore with an estimated $770 billion in assets, announced several senior leadership appointments that include a new chief operating officer, deputy group chief investment officer, and CIOs for public equities and real estate.
All appointments will be effective in the new financial year on April 1, the fund said in a statement on Feb. 7.
Sam Kim was made COO and will be a member of the group executive committee, the highest management body in GIC that reviews and approves key investment, organizational and personnel decisions. Kim is currently deputy COO and first joined the firm in 2018.
He succeeds Tay Lim Hock who steps down as COO and deputy group CIO. Tay will remain a member of the group executive committee and the global leadership group.
Lim Kee Chong will also step down as deputy group CIO and director of the integrated strategies group, and will similarly retain membership of the group executive committee and the global leadership group.
GIC spokespeople said Lim and Tay will remain with the firm in a full-time capacity.
Bryan Yeo was promoted to deputy group CIO and director of the integrated strategies group. Mark Ong, head of Asia-Pacific equities, will succeed him as chief investment officer for public equities.
In the real estate department, Goh Chin Kiong will take over as CIO for real estate, replacing Lee Kok Sun who is retiring. Lee has been in the role since 2016 and joined the fund in 1996.
Lastly, Boon Chin Hau was appointed deputy CIO for infrastructure. Ang Eng Seng will retain his position as CIO for infrastructure.
Spokespeople declined to comment on replacements for Ong as head of Asia-Pacific equities, Goh as deputy CIO of real estate, and Boon as head of infrastructure for Asia, Latin America and credit.
