Singapore's investment body, GIC announced on Tuesday (21 November) that former President of Singapore and former PAP minister, Dr Tony Tan Keng Yam has been appointed Director and Special Advisor to GIC, with effect from 1 January 2018.
Mr Lim Chow Kiat, Chief Executive Officer of GIC, said, "As Special Advisor, Dr Tan will provide much value in broadening and strengthening GIC’s network of senior statesmen and leaders of corporations and institutions who may be constructive in advancing the business and interests of GIC."
"We will also benefit from his extensive knowledge and perspectives on global matters," he added.
Dr Tan was Former Deputy Chairman and Executive Director of GIC from September 2005 to June 2011. Prior to that, Dr Tan was Deputy Prime Minister of Singapore before stepping down in 2006. In 2011, he resigned from his positions in order to contest for the position of President. Winning with a razor-thin margin, Dr Tan went on to serve as the 7th President of Singapore until 31 August 2017.
GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore’s foreign reserves. Headquartered in Singapore, GIC employs over 1,400 people across 10 offices in key financial cities worldwide.
Its investments span across a wide range of asset classes, including real estate, private equity, equities and fixed income and has investments in over 40 countries and has been investing in emerging markets for more than two decades.