International Advisory Board

The International Advisory Board provides the GIC Board, Board Committees and GIC Management with global and regional perspectives on geopolitical, economic and market developments. It offers advice on a range of investment-related matters, in particular, global investment trends, emerging asset classes and new growth opportunities.


Director, GIC Board
Chairman, GIC International Advisory Board


Teo Chee Hean has been Deputy Prime Minister of Singapore since 2009. He chairs the GIC International Advisory Board. He is currently Coordinating Minister for National Security, and also oversees the Prime Minister’s Office Strategy Group, including the National Population and Talent Division and the National Climate Change Secretariat. Mr Teo has held Cabinet positions in Home Affairs, Defence, Education, Finance, Environment, and Communications. Prior to entering politics in 1992, he was the Chief of Navy holding the rank of Rear Admiral.


Mr Teo graduated with a BSc (First Class Honours) in Electrical Engineering and Management Science from the University of Manchester. He holds an MSc (Distinction) in Computing Science from Imperial College and a Masters in Public Administration from Harvard University, where he was named a Littauer Fellow.

Teo Chee Hean
Deputy Prime Minister & Coordinating Minister for National Security


Member, GIC International Advisory Board
Member, GIC Investment Board
Advisor, GIC Investment Strategies Committee


Leonard Baker is a Partner in Sutter Hill Ventures. He advises GIC’s Investment Strategies Committee and sits on the Investment Board. He was a trustee of Yale University, where he chaired the Finance Committee and served on the Yale Investment Committee from 1990 to 2015, and also a member of the Advisory Council of the Stanford Graduate School of Business. Mr Baker is a board member of Stanford Management Company, advises the David and Lucile Packard Foundation Investment Committee, and is a board member of the US Environmental Defense Fund. He is also a member of the Board of Trustees of Berklee College of Music in Boston. In 2005, he was conferred the Public Service Star Award in Singapore for his contributions in the areas of education and investment management.


Mr Baker holds a BA in Mathematics from Yale and an MBA from Stanford.

Leonard Baker
Sutter Hill Ventures

Member, GIC International Advisory Board
Member, GIC Investment Board


Léon Bressler is the Managing Partner of Aermont Capital LLP, formerly Perella Weinberg Real Estate UK LLP, since its inception in 2007. He is a member of the GIC Investment Board. Prior to joining Perella Weinberg Partners, Mr Bressler was the Chairman and CEO of Unibail (now Unibail-Rodamco). Under his leadership, Unibail grew to become Europe’s largest real estate investment trust. Mr Bressler began his career with Chase Manhattan Bank in Paris, before joining the Midland Bank Group where he became the Chairman of the Executive Board of Midland Bank SA. He has also held positions as CEO of the Lanvin Group and Managing Partner of Worms & Cie.


Mr Bressler is a graduate of the Institut d’Etudes Politiques de Paris and has a degree in Law.

Léon Bressler
Managing Partner
Aermont Capital

Member, GIC International Advisory Board
Member, GIC Investment Board
Advisor, GIC Investment Strategies Committee


David Denison is a corporate director with extensive experience in the financial services industry. He advises the GIC Investment Strategies Committee and sits on the Investment Board. He served as President and CEO of the Canada Pension Plan Investment Board from 2005 to 2012. Prior to that, he was President of Fidelity Investments Canada Limited. Mr Denison is a director of Royal Bank of Canada and BCE Inc. He also sits on the International Advisory Council of the China Investment Corporation and is Co-Chair of the University of Toronto Foundation Investment Committee. He was named an Officer of the Order of Canada in 2014.


Mr Denison earned Bachelor of Arts and Education degrees from the University of Toronto and is a Fellow of the Institute of Chartered Accountants of Ontario.

David Denison
Former President and CEO
Canada Pension Plan Investment Board

Member, GIC International Advisory Board
Advisor, GIC Investment Strategies Committee
Advisor, GIC Risk Committee


Mark Kritzman is a Founding Partner and Chief Executive Officer of Windham Capital Management and Chairman of Windham’s Investment Committee. He advises GIC’s Investment Strategies and Risk Committees. He was a Founding Director of the International Securities Exchange and has served on several boards, including the Institute for Quantitative Research in Finance, The Investment Fund for Foundations, and State Street Associates. He is also on several editorial boards, and is the author of seven books including Puzzles of Finance and The Portable Financial Analyst. Mr Kritzman has won multiple awards including the Graham and Dodd Scroll, the Bernstein-Fabozzi/Jacobs-Levy Award, the Roger F. Murray Q-Group Prize, and the Peter L. Bernstein Award.


Mr Kritzman has a BSc degree in Economics from St. John’s University, an MBA (Distinction) from New York University, and a CFA designation. In 2004, he was elected a Batten Fellow at the Darden Graduate School of Business Administration, University of Virginia.

Mark Kritzman
Founding Partner and CEO
Windham Capital Management

Member, GIC International Advisory Board
Advisor, GIC Investment Strategies Committee


Dr Mohamed El-Erian is Chief Economic Advisor at Allianz, the parent of PIMCO where he served as CEO and co-CIO (2007-14), and former chair of President Obama’s Global Development Council. He is an advisor to the GIC Investment Strategies Committee. He was President and CEO of Harvard Management Company, Managing Director at Salomon Smith Barney/Citigroup, and Deputy Director at the International Monetary Fund in Washington, DC. Dr El-Erian writes regularly, and is a Financial Times Contributing Editor and Bloomberg View columnist. He has two New York Times’ best sellers – the 2008 “When Markets Collide” and the 2016 “The Only Game in Town”.


Dr El-Erian holds a Bachelor of Economics from Cambridge University, as well as a Masters and PhD in Economics from Oxford University. He is an Honorary Fellow of Queens’ College, Cambridge University.

Dr Mohamed El-Erian
Chief Economic Advisor

Member, GIC International Advisory Board


Uday Kotak, Founder, Executive Vice Chairman and Managing Director of Kotak Mahindra Bank, has led the group in a broad range of financial services for over 32 years. The Group’s vision for equitable prosperity extends beyond financial services. The Kotak Education Foundation works with some of India’s most economically underprivileged communities, attempting to alleviate poverty through education and livelihood programmes. Mr Kotak is a member of the International Advisory Panel of Monetary Authority of Singapore, and has served as Chairman of the Corporate Governance Committee constituted by SEBI. He has been awarded the ‘Ernst & Young World Entrepreneur of the Year Award’ in 2014 and ‘Economic Times Business Leader of the Year Award’ in 2015.


Mr Kotak holds a Bachelor’s degree in Commerce, and a MMS degree from Jamnalal Bajaj Institute of Management Studies, Mumbai.

Uday Kotak
Executive Vice Chairman &
Managing Director, Kotak Mahindra Bank

Member, GIC International Advisory Board
Advisor, GIC Investment Strategies Committee


Carsten Stendevad is the Senior Fellow of Bridgewater Associates. He is an advisor to the GIC Investment Strategies Committee. Previously, he was CEO of ATP where he was responsible for all pension, investment and administrative activities. Under his leadership, ATP redesigned its investment strategy with a new approach to portfolio construction, strengthened in-house investment capabilities and increased focus on direct investments in real assets, all while delivering strong investment returns. Prior to joining ATP, Carsten worked at Citigroup and McKinsey.


Mr Stendevad holds a B.Sc. and M.Sc. in Economics from the University of Copenhagen (Cand. Polit.), a postgraduate diploma in Rhetoric from the University of Copenhagen, as well as a Master of Public Policy from the Harvard Kennedy School of Government. He is a recipient of the Order of Dannebrog awarded by HMQ Margrethe II of Denmark.

Carsten Stendevad
Senior Fellow
Bridgewater Associates