Singapore's Ng Ser Miang will take over one of the key positions of the International Olympic Committee (IOC), after being announced as the chairman of the organisation's finance commission.

The 64-year-old's appointment was unveiled when IOC president Thomas Bach announced the composition of the various commissions on Wednesday.

Bach was elected last September as the chief of the IOC after Belgian Jacques Rogge stepped down after 12 years in office.

Ng, who ran against Bach for presidency, will take over from Richard Carrion. The Singaporean had stepped in as chair on an interim basis after his Puerto Rican counterpart resigned from the position in September. Carrion had also run against Bach for the IOC presidency.

Ng will take charge of managing and growing the IOC's financial reserves, which amount to more than US$900 million (S$1.13 billion).