Jeffrey Jaensubhakij, Chief Investment Officer GICis reportedly retiring after nearly 30 years at Singapore’s sovereign wealth fund.
This marks a significant leadership change for one of the world’s largest funds, Bloomberg reported, citing people familiar with the situation.
Mr. Jaensubbhakij has held the CIO role since 2017, when his predecessor Mr. Lim Chow Kiat became CEO.
The move comes as GIC navigates a difficult investment environment characterized by geopolitical uncertainty and changing economic trends.
Under Jayensbakiji’s leadership, GIC has shifted its investment strategy to focus on alternative assets such as private equity and real estate, while reducing its holdings in traditional stocks and bonds.
GIC does not disclose its assets under management, but the Sovereign Wealth Fund Institute estimates its assets under management at approximately US$800.8 billion, ranking it seventh in the world.
Despite this impressive size, GIC’s profits have shown a modest trend in recent years.
Jaensubhajj’s career with GIC has been varied and encompassed a wide range of responsibilities.
He has overseen a portfolio of North American equities, managed European operations and directed investments around the world.
He began his career with the company in 1998, bringing with him a strong academic background in economics from Cambridge University and Stanford University.
During his tenure, GIC has experienced significant growth, with assets under management tripling since 2011.
Along with this expansion, our staff has also increased significantly, from over 1,400 in 2017 to over 2,300 in recent years.
Brian Yeo, currently deputy CIO, will become head of investment in April.
Mr. Yeo, a GIC scholar, joined the company in 2003 and has steadily risen through the ranks, holding various positions including CIO of public equity.
His experience includes working in GIC’s London and New York offices.
Mr Yeo identified several key areas that will drive this transformation, including artificial intelligence, the ongoing energy transition, advances in healthcare, and increased digitization.
Featured image credit: Edited from freepic
