GIC names Lim Chow Kiat as new group CIO

GIC names Lim Chow Kiat as new group CIO
Posted: 04 January 2013 1144 hrs

SINGAPORE: The Government of Singapore Investment Corporation (GIC) has named Lim Chow Kiat as its next group chief investment officer, effective 1 February 2013.

GIC said in a statement on Friday that Mr Lim will succeed Mr Ng Kok Song who is retiring.

Mr Ng, 64, has spent 42 years in the management of Singapore's foreign reserves. He was appointed GIC's first group chief investment officer in 2007, where he integrated GIC's investment strategy at the portfolio level across the public and private markets, GIC said.

In his letter of appreciation to Mr Ng, Prime Minister Lee Hsien Loong -- who is also the chairman of GIC -- said Mr Ng made many significant contributions to GIC, including expanding GIC's remit into new investment areas, helping to review GIC's investment objectives and risk tolerance, and providing steady leadership during successive booms and crises.

After his retirement, Mr Ng will become an advisor to GIC in the role of chair of global investments. Among other advisory roles, he will also continue as a director on the Boards of GIC Asset Management (GAM), GIC Real Estate, and GIC Special Investments.

Mr Lim, 42, is currently GIC's deputy group chief investment officer. He joined the sovereign wealth fund in 1993 after graduating with first class honours in accountancy from Nanyang Technological University.

He was appointed head of GIC's Fixed Income, Currency and Commodities Department, as well as deputy president of GAM in 2008.

He became president of GAM in July 2011 and deputy group CIO in April 2012.

Mr Lim said: "Mr Ng Kok Song has been a great influence in developing the professional investment capability of GIC.

"As GCIO, my focus will be to build on that capability and ensure that the GIC investment process remains robust. The unwavering goal is to deliver the best possible long-term returns for the benefit of Singapore and Singaporeans."

- CNA/al

- wong chee tat :)