Singapore sovereign wealth fund GIC has appointed Lawrence Wong, currently its director, as deputy chairman of its board of directors, effective October 1.

He has been a GIC director and chairman of the Investment Strategies Committee since November 1 2018 and July 7 2023 respectively. As deputy chairman, he will assist the chairman to lead the board in overseeing the fund’s long-term asset allocation and portfolio performance.

Wong is currently Singapore’s deputy prime minister and minister for finance. He is the chairman of the Monetary Authority of Singapore ( MAS ) and chairman of the Singapore Economic Development Board’s International Advisory Council. He is also a member of the Future Economy Council, the Research, Innovation and Enterprise Council, and the National Research Foundation Board.