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GIC appoints new heads for Europe and Americas. Financial Times.

Global crisis sparks Singapore fund shake-up

From the Financial Times:

The Government of Singapore Investment Corporation, one of the world’s biggest sovereign wealth funds, on Monday announced a senior management shake-up prompted by concerns about protectionism and regulatory change in the west.

GIC, estimated by Deutsche Bank to have assets of about $300bn, said it had appointed Lim Chow Kiat to the new post of president for Europe, based in London, while Anthony Lim Weng Kin would become president for Americas, based in New York.

The new regional heads – both internal appointments – will outrank the regional representatives of GIC’s three investment subsidiaries and will be expected to promote contacts with policymakers and opinion-formers as the fall-out from the global financial crisis becomes clearer.

Full report here.