SINGAPORE: Singapore sovereign wealth fund GIC has named two new GIC Board directors, it said in a news release on Thursday (Nov 1).
Mr Lawrence Wong, Minister for National Development and the Second Minister for Finance, will be appointed to the GIC Board with effect from Nov 1.
Since Aug 1, 2017, Mr Wong has been a member of the GIC Investment Strategies Committee, a board committee which oversees GIC’s performance and risk profile and makes recommendations to the Board on investment policy.
Mr Seck Wai Kwong, Chief Executive Officer of Asia Pacific at State Street Bank and Trust Company, will be appointed to the GIC Board with effect from Nov 9.
Mr Seck previously served on the GIC Risk Committee from 2010 to 2016.
“We are very pleased to welcome Mr Wong and Mr Seck as directors on the GIC Board," said GIC Chief Executive Officer Lim Chow Kiat.
"Mr Wong has an economics background and has served in trade, economics and finance roles, among others. Mr Seck has extensive experience in global investment markets, banking and finance, and asset management functions. We will benefit from their wealth of knowledge and leadership insights.”