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Singapore's sovereign wealth fund GIC has announced changes to its senior investment leadership team by appointing two new deputy group chief investment officers and naming a new chief investment officer for its Fixed Income & Multi Asset (FIMA) business. The changes expand responsibilities for senior executives across private markets and portfolio management while maintaining the existing reporting structure. Established in 1981, GIC manages Singapore's foreign reserves and has investments across more than 40 countries, covering equities, fixed income, real estate, infrastructure and other asset classes.
Singapore's sovereign wealth fund GIC has strengthened its senior investment leadership team with the appointment of two deputy group chief investment officers (DGCIOs) and a new chief investment officer (CIO) for its Fixed Income & Multi Asset (FIMA) business.
According to a recent statement issued by the fund, Choo Yong Cheen, who currently serves as chief investment officer for Private Equity, has also been appointed deputy group chief investment officer.
In his expanded role, Yong Cheen will continue leading the private equity business while overseeing GIC's broader private market investment portfolio. His responsibilities will include private equity, real estate, infrastructure and the Integrated Strategies Group, which focuses on less conventional investment opportunities.
GIC also appointed Liew Tzu Mi, the current chief investment officer for FIMA and director of the Portfolio Execution & Solutions Group (PESG), as deputy group chief investment officer.
As part of the leadership transition, Liew will continue to head the Portfolio Execution & Solutions Group while stepping down from the CIO role for FIMA.
The fund has appointed Liang Jiajie, who currently serves as deputy CIO for FIMA, as the new chief investment officer for the Fixed Income & Multi Asset business.
GIC said both deputy group chief investment officers will support the group chief investment officer in managing the organisation's investment activities. At the same time, all chief investment officers across the fund will continue to report to the group chief investment officer under the existing reporting structure.
The leadership changes come as GIC continues to manage a globally diversified investment portfolio spanning public and private markets. Along with equities and fixed income, the fund has built significant exposure to real estate, infrastructure and alternative investment strategies over the years as part of its long-term investment approach.
Founded in 1981 to manage Singapore's foreign reserves, GIC has grown into one of the world's largest sovereign wealth funds. It operates from 11 financial centres worldwide, employs more than 2,500 people and maintains investments in over 40 countries across multiple asset classes.
Source Reuters
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