GIC Deputy Chair Quits For Presidency

The Government Investment Corporation of Singapore deputy chairman Tony Tan is stepping down from his position.

The Government Investment Corporation of Singapore (GIC)’s deputy chairman Tony Tan is stepping down from his position, Financial Times reports. He will run for the position of president in an election that must be held before end-August.

Tan, who was deputy prime minister before joining GIC in 2006, has also resigned as Chairman of Singapore Press Holdings, adds Reuters. His departure follows a major reshuffle at the $247.5 billion GIC.

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