SINGAPORE - GIC on Friday (Feb 28) announced the retirement of Dr Chia Tai Tee as chief risk officer (CRO), and said his deputy Jin Yuen Yee will take over the office and join its group executive committee on April 1.
In addition to Mr Jin, three chief investment officers (CIOs) will also join that committee which is GIC's highest management body, bringing its member count to 10.
Dr Chia will step down as CRO on March 31 after serving 26 years with GIC, to pursue other interests. He will serve as a GIC advisor until June 30 to facilitate the handover to Mr Jin, for the current financial year ending March 31.
As CRO, Mr Jin will head the overall risk function for the group, oversee risk policy implementation and manage significant risk issues from investments and operations.
Choo Yong Cheen, Liew Tzu Mi and Bryan Yeo - the respective CIOs for private equity, fixed income and public equities - will continue in their current roles after joining the group executive committee.
As new appointees to the committee, they will have formal responsibilities to chart the future of GIC and manage issues at the enterprise level. The Singapore sovereign wealth fund manages well over US$100 billion (S$139.9 billion) in assets.
GIC chief executive officer Lim Chow Kiat said in the statement: "This long-term effort to developing our people and strengthening our bench is typical of GIC's approach, which we apply also in our investing."