SINGAPORE: Group chief investment officer for sovereign wealth fund GIC, Dr Jeffrey Jaensubhakij, is set to retire from his role in April.

He will be succeeded by current deputy group chief investment officer, Mr Bryan Yeo, who will oversee GIC’s total investment portfolio. 

This change will come into effect on Apr 1, GIC said in a news release on Tuesday (Feb 4), adding that Dr Jaensubhakij will be appointed as a GIC adviser.

Dr Jaensubhakij joined GIC in 1998 as an economist and subsequently joined the equities department as a portfolio manager. 

According to the GIC website, he was appointed group chief investment officer in January 2017, overseeing its total investment portfolio and working with investment group heads to develop and manage investment strategies across all asset classes.

GIC on Tuesday also announced that its chief investment officer for infrastructure, Mr Ang Eng Seng, will step down from his role and be appointed as an adviser. The role will be taken on by Mr Boon Chin Hau.

Mr Ang was a director of the Auditor-General’s Office in Singapore prior to joining GIC in 1994. Before becoming GIC’s chief investment officer for infrastructure, he was president for Europe and head of the integrated strategies group. 

GIC chief executive officer, Mr Lim Chow Kiat expressed his gratitude to both Dr Jaensubhakij and Mr Ang for their commitment over the decades. 

“Jeffrey was a key architect of the GIC total portfolio and an innovator in investment policies. Eng Seng was instrumental in the expansion of private markets across asset classes and geographies, and was a founding leader for the infrastructure group.

“We look forward to their continued contributions as GIC advisers in the days ahead. I am confident that the leadership team which we have built over time will bring new perspectives and unique strengths to GIC as we continue to fulfil our purpose of securing Singapore’s financial future,” he said.