Singapore’s GIC appoints new CIO

The incumbent chief investment officer at the Singaporean sovereign wealth fund has retired, making way for deputy Chow Kiat Lim to succeed.

Kok Song Ng, the first-ever group chief investment officer at the Government of Singapore Investment Corporation, has retired, according to a GIC statement. 

His deputy, Chow Kiat Lim, will succeed him, with the new appointment effective on 1 February. 

Ng joined GIC in 1986 and was appointed group chief investment officer in 2007. During his time at the Singaporean sovereign wealth fund, Ng “vastly expanded GIC’s investment capability”, the statement said.

Ng will continue in a number of advisory roles at GIC, including chair of global investments, member of GIC’s international advisory board and advisor to the investment strategies committee and the group executive committee. He will also continue as a director on the boards of GIC Asset Management, GIC Real Estate and GIC Special Investments.

His successor, Lim, joined GIC in 1993 and became deputy chief investment officer in April 2012. He also continues to serve as president of GIC Asset Management. 

Lim said in a statement: “Ng Kok Song has been a great influence in developing the professional investment capability of GIC. As group chief investment officer, my focus will be to build on that capability and ensure that the GIC investment process remains robust.”

GIC did not respond to requests for further comment by press time. 

GIC is an investment management company established in 1981 to manage Singapore's foreign reserves. As of March 2012, the SWF had close to $250 billion in assets under management with an 11 percent allocation to private equity and infrastructure. 

In January 2012, GIC sold a chunk of its private equity portfolio in a secondary sale worth approximately $750 million, a substantial part being acquired by the secondaries arm of Credit Suisse Group, CS Strategic Partners.