Deputy Prime Minister Lawrence Wong will become the deputy chairman of GIC on Oct. 1, 2023, announced the sovereign wealth fund on Sep. 25.

Wong is currently serving as a GIC board director. He was appointed to this post in November 2018.

GIC said that Wong has been a director and chairman of the Investment Strategies Committee (ISC) since November 2018 and July 2023 respectively.

He became the chairman of the ISC after President Tharman Shanmugaratnam resigned to run for the presidency.

As the deputy chairman of GIC, Wong will assist GIC's chairman, currently Prime Minister Lee Hsien Loong, to lead the board in overseeing the fund's long-term asset allocation and portfolio performance.

Aside from serving as Singapore's Deputy Prime Minister and Finance Minister, Wong also serves as chairman of the Monetary Authority of Singapore and the Economic Development Board’s International Advisory Council.

Top image: Lawrence Wong/Facebook