Wong's appointment is effective Oct 1, 2023. Photo: Bloomberg

Lawrence Wong, who is the deputy prime minister and minister for finance, has been appointed as GIC’s deputy chairman.

Wong’s appointment is effective Oct 1.

Wong has been a director at GIC since Nov 1, 2018. More recently, he was appointed the chairman of its investment strategies committee (ISC) on July 7.

In his new role, Wong will assist the chairman of GIC, Prime Minister Lee Hsien Loong, to lead the board in overseeing GIC’s long-term asset allocation and portfolio performance.

Wong is also currently the chairman of the Monetary Authority of Singapore (MAS) as well as the Singapore Economic Development Board’s (EDB) 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.