, Singapore

GIC appoints Lim Chow Kiat as CEO

According to Bloomberg, Singapore’s sovereign wealth fund GIC has appointed 23-year veteran Lim Chow Kiat as chief executive officer amid expectations feeble global growth will dampen returns.

Lim, 46, who joined the fund in 1993, will assume the newly created CEO role on Jan. 1, and Jeffrey Jaensubhakij, 50, will replace him as group chief investment officer, GIC said in an e-mailed statement on Monday. Lim Siong Guan, 69, will retire as group president and be appointed adviser to the GIC group executive committee.

Read more here from Bloomberg.

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