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31 August 2009

Singapore’s GIC adds chiefs for Europe, Americas

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The Government of Singapore Investment Corp (GIC), which manages an estimated $200 billion (S$288 billion)-plus in assets, said it has created the new posts of president (Europe) and president (Americas) to help it improve ties with policymakers, reported Reuters.

GIC has ploughed billions into Citigroup and UBS. It is the world's fourth largest sovereign wealth fund with assets of around $300 billion, according to estimates by Deutsche Bank.

In a statement issued on Monday, GIC said Lim Chow Kiat will be based in London to cover Europe, the Middle East and Africa, while Anthony Lim Weng Kin will work from New York and be responsible for North, Central and South America.

'The presidents will be the most senior representatives in their respective geographies for the whole of GIC. They will promote contacts with policy makers and thought leaders in the financial,governmental and non-governmental circles,' GIC said.






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