Singapore, 23 April 2019 – GIC announces the appointment of Mr Tharman Shanmugaratnam, currently GIC Director, as Deputy Chairman. The appointment is effective 1 May 2019.

Mr Tharman has been a GIC Director and Chairman of the Investment Strategies Committee (ISC) since May 2004 and July 2011 respectively. As Deputy Chairman, Mr Tharman will assist the Chairman to lead the Board in overseeing GIC’s long-term asset allocation and portfolio performance.

Mr Tharman is currently Deputy Prime Minister and Co-ordinating Minister for Economic and Social Policies, and previously served as Minister for Finance for eight years from 2007 – 2015. He is currently Chairman of the Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulator. Mr Tharman was appointed Chairman of the Group of Thirty, an independent global council of leading economic and financial policy-makers, from January 2017. In April 2017, he was appointed Chairman of the G20 Eminent Persons Group on Global Financial Governance, to review the system of multilateral financial institutions.