Former Singapore minister Teo Chee Hean leaves GIC for Temasek Holdings leadership role.

Former Singapore senior minister Teo Chee Hean is stepping down from his roles at the country's sovereign wealth fund, GIC, on June 30, after 14 years of service. He is set to become the new chairman of Temasek Holdings, another major state investment firm, starting October 9. Teo has been pivotal in guiding GIC through significant global challenges, including the financial crisis and the pandemic.