The Government of Singapore Investment Corp (GIC) has boosted its investment power with key changes to its senior leadership.
The changes came as GIC revealed it had recovered all the losses experienced during the global financial crisis, while its portfolio had witnessed good returns in the past year.
GIC will appoint new presidents to head its three investment companies — special investments, asset management and real estate.
The investment company is also appointing the retired presidents to lead special business groups to concentrate on key emerging markets in India, China and Latin America.
“These changes will ensure smooth transition in the leadership of the three investment companies of GIC and at the same time strengthen GIC’s reach in the emerging markets,” said Tony Tan, GIC Deputy Chairman and Executive Director.
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