08 Jun 2011

GIC today announced the following top management appointments that will take effect from 1 July 2011:

a) Mr Lim Chow Kiat, President (Europe) since September 2009, will be appointed President, GIC Asset Management.
Mr Lim will hand over his role as President (Europe) to Dr Jeffrey Jaensubhakij.

b) Mr Tay Lim Hock, Deputy President since July 2010, will be appointed President, GIC Special Investments.

c) Mr Goh Kok Huat, Deputy President since July 2010, will be appointed President, GIC Real Estate.

d) Mr Quah Wee Ghee will chair GIC’s India Business Group. Mr Quah will retire as President, GIC Asset Management.

e) Dr Teh Kok Peng will chair GIC’s China Business Group. Dr Teh will retire as President, GIC Special Investments.

f) Dr Seek Ngee Huat will chair GIC’s Latin America Business Group. Dr Seek will retire as President, GIC Real Estate.

GIC Deputy Chairman and Executive Director, Dr Tony Tan said: “Carefully planned and well-executed leadership changes are key to GIC’s sustained success. These changes will ensure smooth transition in the leadership of the three investment companies of GIC and at the same time strengthen GIC’s reach in the emerging markets. GIC builds its competitive advantage through an investment strategy of ‘integrated diversity’. There are unique investment opportunities in the new financial landscape, especially in the emerging markets, which call for GIC to operate as one integrated organization while mining the expertise in GIC’s range of asset classes. We do this without compromising “Chinese Wall” separations.”

Dr Tony Tan added, “On behalf of GIC, I would like to thank Mr Quah Wee Ghee, Dr Teh Kok Peng and Dr Seek Ngee Huat for their significant contributions to GIC in their capacities as President, GIC Asset Management, President, GIC Special Investments and President, GIC Real Estate respectively. I look forward to them continuing to contribute to GIC’s development and progress as Chairmen of their respective Business Groups.”