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February 2024
AAM Magazine
February 2024
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Singapore wealth fund GIC names new COO, deputy group CIO

Kim and Yeo succeed Tay Lim Hock, who is currently GIC’s chief operating officer and deputy group CIO
By Goh Thean Eu   
February 9, 2024

Singapore sovereign wealth fund GIC Pte Ltd has promoted Sam Kim to chief operating officer and Bryan Yeo to deputy group chief investment officer.

Both positions are currently held by Tay Lim Hock. GIC also has another deputy group CIO, Lim Kee Chong.

Tay and Lim will both “step down” from their roles but stay on with the wealth fund and remain on its group executive committee, which reviews and approves key investment issues, GIC says in a statement on February 7 announcing several changes to its senior management lineup. All are effective April 1.

Kim, who is currently deputy COO, will also join the executive committee.

Yeo is now the CIO for public equities, a position that will be taken over by Mark Ong, who currently heads Asia Pacific equities.

Meanwhile, Lee Kok Sun, a 27-year GIC veteran and the CIO for real estate, is retiring and will be succeeded by his deputy, Goh Chin Kiong.

“With this refreshed leadership bench, I am confident that we can continue to pursue excellence in our operating and investment capabilities, and navigate the investment environment,” GIC Chief Executive Officer Lim Chow Kiat says in the statement.

He paid tribute to Lee, saying that his “vision, tenacity and dedication” have made GIC’s real estate portfolio “the global industry leader that it is today”.

GIC doesn’t publicly disclose its asset data. The Sovereign Wealth Fund Institute estimates the wealth fund had around US$690 billion of assets as of March 2023.