<article>Singapore&#8217;s sovereign wealth fund GIC has appointed Tharman Shanmugaratnam as its deputy chairman effective May 1, 2019, according to a statement.</article>

Singapore&#8217;s sovereign wealth fund GIC has appointed Tharman Shanmugaratnam as its deputy chairman effective May 1, 2019, according to a statement.
In this role, Shanmugaratnam will assist GIC chairman Lee Hsien Loong to lead the board in overseeing long-term asset allocation and portfolio performance. He has been GIC Director and Chairman of the Investment Strategies Committee (ISC) since May 2004 and July 2011 respectively.
This appointment comes amidst a cabinet re-shuffle, as part of succession planning by the Singapore government.
Shanmugaratnam will relinquish his role as Deputy Prime Minister on 1 May to make way for Heng Swee Keat who has been nominated for the role. He will remain in cabinet as senior minister and coordinating minister for social policies.
Shanmugaratnam previously served as Singapore&#8217;s Minister for Finance for eight years from 2007 – 2015. He is also the Chairman of the Monetary Authority of Singapore (MAS), Singapore’s central bank and financial regulator.
In 2017, he was appointed Chairman of the Group of Thirty, an independent global council of leading economic and financial policy-makers. He also serves as the Chairman of the G20 Eminent Persons Group on Global Financial Governance, to review the system of multilateral financial institutions.

Shanmugaratnam will assist GIC's chairman Lee Hsien Loong to lead the board in overseeing long-term asset allocation and portfolio performance.

Singapore's GIC appoints Tharman Shanmugaratnam as deputy chairman

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Singapore's GIC appoints Tharman Shanmugaratnam as deputy chairman

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