Singapore’s GIC to name Chia as successor to Sung as CRO

GIC has appointed Chia Tai Tee to succeed Sung Cheng Chih as chief risk officer. The move is part of a managed succession. Sung, who warned of the dangers of CDO investments prior to the financial crisis of 2007/2008, will remain as a consultant to the sovereign wealth fund

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The Government of Singapore Investment Corporation (GIC), one of the world's largest sovereign wealth funds, has appointed Chia Tai Tee as its new chief risk officer.

Chia, currently deputy chief risk officer and director of the risk and performance department, will replace incumbent, Sung Cheng Chih, on July 1. Pang Wai Yin, currently deputy director of the risk and performance department, will be promoted to head that department on July 1. There will be no immediate replacement for the role of

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