SINGAPORE, 1 April 2019 – GIC today announces new appointments, effective 1 July 2019, following the retirement of two senior management members.

Mr Tay Lim Hock, currently a Deputy Group Chief Investment Officer and President (Europe), will be appointed Chief Operating Officer. As COO, he will oversee investment services, technology and corporate administration. He will relinquish his role as President (Europe) and relocate to Singapore from London. Mr Tay joined GIC in 1995.

He succeeds Mr Goh Kok Huat who will step down as COO after a decade with GIC. Mr Goh will become a GIC Advisor until 30 June 2020. Mr Goh joined GIC in 2009 and was appointed President, Real Estate, in 2011. He was subsequently appointed COO in April 2014, concurrently with his real estate portfolio.

Mr Arjun Gupta will replace Mr Tay as President (Europe) and relocate from Singapore to London.

Separately, Dr Leslie Teo will step down as Director, Economics and Investment Strategy, and as Chief Economist. His twin roles will go to two colleagues, Mr Kevin Bong and Dr Prakash Kannan.

Dr Teo, who joined GIC in 2008, will become a GIC Advisor until 30 June 2020.

Mr Bong will be appointed Director, Economics and Investment Strategy. Dr Kannan will be appointed Chief Economist and retain his current role as Head, Total Portfolio Management, Economics and Investment Strategy.

GIC Chief Executive Officer Lim Chow Kiat said: “The new appointments refresh the bench and also prepare new leaders to take on more responsibilities. They show the long-term approach that defines GIC, whether in investing or succession planning.

My appreciation goes to Kok Huat and Leslie for their contributions spanning more than a decade, working with me and the management team to strengthen GIC’s investment capabilities. They have shaped and orientated their roles for the future. Both of them have expressed their desire to pursue other interests, and we wish them all the best in their future pursuits.

Let me also extend my congratulations to Lim Hock and colleagues who are taking up new appointments. I look forward to working closely with them to further strengthen our operating and investment strategy capabilities. GIC is fortunate to have their commitment.”