Risk Committee

The Risk Committee advises the Board on risk matters and focuses on overseeing GIC’s risk policies and risk management.


Director, GIC Board
Chairman, GIC Risk Committee
Member, GIC Investment Strategies Committee


Lim Hng Kiang, the Special Advisor to the Ministry of Trade and Industry,  chairs the GIC Risk Committee and sits on the Investment Strategies Committee. He is also Deputy Chairman of the Monetary Authority of Singapore. Mr Lim was Minister for Trade and Industry from 2004 until 2015, when the Ministry was carved into two portfolios. He was then appointed Minister for Trade and Industry (Trade) until he stepped down in May 2018. In his current appointment, Mr Lim provides advice on the Ministry’s economic strategies to grow Singapore’s capabilities and international economic space.  He has held Cabinet posts in National Development, Health, Foreign Affairs, Finance and the Prime Minister’s Office. Before entering politics in 1991, he was Deputy Secretary in the Ministry of National Development.


Mr Lim graduated from Cambridge University with First Class Honours (Distinction) in Engineering. He later earned a Masters in Public Administration from Harvard University.

Lim Hng Kiang
Special Advisor to
Ministry of Trade & Industry


Director, GIC Board
Member, GIC Risk Committee
Member, GIC Audit Committee


Loh Boon Chye is the CEO of Singapore Exchange. He sits on the GIC Risk and Audit Committees. He has close to 30 years of experience in the financial industry and has played a key role in the development of Southeast Asia’s capital markets. Prior to SGX, he was Deputy President for Asia Pacific, Head of Asia Pacific Global Markets, and Country Executive for Singapore and Southeast Asia at Bank of America Merrill Lynch. He spent 17 years in Deutsche Bank where his last role was the Head of Corporate and Investment Banking for Asia Pacific. He started his career with the Monetary Authority of Singapore and Morgan Guaranty Trust Co. of New York.


Mr Loh holds a Bachelor of Engineering degree from the National University of Singapore.

Loh Boon Chye
Chief Executive Officer
Singapore Exchange Ltd

Member, GIC Risk Committee


Lam Kun Kin is Senior Executive Vice President and Head of Global Treasury & Investment Banking at OCBC Bank. He is a member of the GIC Risk Committee. At OCBC, he has global responsibility for the financial market businesses and asset liability management, and also oversees the Global Investment Banking division. Prior to joining OCBC, Mr Lam held senior management positions at GIC, Citibank Singapore and Temasek Holdings. In September 2014, he was appointed by the MAS as Co-Chairman of the Singapore Foreign Exchange Market Committee. Currently, he serves on the boards of Bank of Singapore, OCBC Securities, AVIC Trust, REACH Community Service Society and the Great Eastern Group’s Asset & Liability Committee and Investment Committee.


Mr Lam holds a B.Acc (Honours) from the National University of Singapore. He is a Chartered Financial Analyst, Fellow Chartered Accountant of Singapore, and Institute of Banking and Finance (IBF) Distinguished Fellow.

Lam Kun Kin
Senior Executive Vice President, Head of Global Treasury & Investment Banking
Oversea-Chinese Banking Corporation (OCBC)


GIC Advisor Emeritus
Advisor, GIC Investment Strategies Committee
Advisor, GIC Risk Committee


Dr Martin L. Leibowitz is a Managing Director of Morgan Stanley, and Vice Chairman of its Research Department. He advises GIC’s Investment Strategies and Risk Committees. Prior to joining Morgan Stanley, Dr Leibowitz was the Vice-Chairman and Chief Investment Officer of TIAA-CREF, responsible for the management of more than US$300 billion in equity, fixed income and real estate assets. He was also Director of Global Research at Salomon Brothers, and has received wide recognition for his writings on various financial topics and investment analysis. He now serves on the investment advisory committees of The Rockefeller Foundation, The Carnegie Foundation, the IMF Pension Fund, the American Academy of Arts and Sciences, and The Institute for Advanced Study.


Dr Leibowitz holds both an AB and MS degree from the University of Chicago and a PhD in Mathematics from the Courant Institute of New York University.

Dr Martin Leibowitz
Managing Director
Morgan Stanley

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