Singapore sovereign wealth fund GIC said yesterday that it has appointed Singapore's former president Tony Tan Keng Yam as a director and special adviser with effect from Jan 1 next year.

"As special adviser, Dr Tan will provide much value in broadening and strengthening GIC's network of senior statesmen and leaders of corporations and institutions who may be constructive in advancing the business and interests of GIC," said GIC chief executive officer Lim Chow Kiat.

"We will also benefit from his extensive knowledge and perspectives on global matters," he added.

Dr Tan, who stepped down from the nation's presidency in August after finishing his six-year term, was deputy chairman and executive director of GIC from September 2005 to June 2011.

Last month, Dr Tan also accepted an invitation to be the first chief patron for the Securities Investors Association (Singapore), the shareholder advocacy group known as Sias.

Dr Tan will hold a title reserved for "a distinguished person who has been outstanding in his contributions to the betterment of Singapore", according to Sias' Constitution.

He was also appointed honorary patron and distinguished senior fellow at Singapore Management University last month, an institution he helped envision when he was deputy prime minister.