GIC names new COO in management reshuffle

Mr Tay Lim Hock (above) was named GIC's new chief operating officer, taking over from Mr Goh Kok Huat, who is retiring after a decade with the fund.
Mr Tay Lim Hock (above) was named GIC's new chief operating officer, taking over from Mr Goh Kok Huat, who is retiring after a decade with the fund.

Sovereign wealth fund GIC has named a new chief operating officer, among other executive appointments, it said yesterday.

Mr Tay Lim Hock will step into the role to replace Mr Goh Kok Huat, who is retiring after a decade with the fund.

Mr Tay will keep his position as deputy group chief investment officer, but his other role as president (Europe) will be filled by Mr Arjun Gupta, managing director and head of portfolio in the private equity group.

The changes involve Mr Tay relocating to Singapore from London, while Mr Gupta moves from Singapore to London.

Mr Goh, who will become a GIC adviser until June 30 next year, joined GIC in 2009 and was appointed president of real estate in 2011.

Mr Tay was an aeronautical engineer with the Republic of Singapore Air Force before moving to GIC in 1995.

He was posted to London in 2000 as head of private equity Europe, and after stints in the United States, he returned to the city as president (Europe) and deputy group chief investment officer.

Mr Gupta used to work at Kraft Foods, where he was group vice-president and president for Asia-Pacific and, earlier, the managing director for its business in Greater China (China, Hong Kong and Taiwan).

Separately, Dr Leslie Teo, GIC chief economist and director of economics and investment strategy, is also retiring but will continue as an adviser until June 30 next year.

Mr Kevin Bong will take on the role of director of economics and investment strategy, while Dr Prakash Kannan will assume the role of chief economist. Dr Kannan will retain his position as head of total portfolio management, economics and investment strategy.

GIC chief executive Lim Chow Kiat said: "The new appointments refresh the bench and also prepare new leaders to take on more responsibilities."

He thanked Mr Goh and Dr Teo for their contributions, saying: "They have shaped and orientated their roles for the future. Both of them have expressed their desire to pursue other interests, and we wish them all the best in their future pursuits."

A version of this article appeared in the print edition of The Straits Times on April 02, 2019, with the headline 'GIC names new COO in management reshuffle'. Print Edition | Subscribe