Working at GIC: Company History, Culture, Benefits, and Leadership

In the heart of Singapore's financial landscape lies GIC, a powerhouse in global investments. Established in 1981, the Government of Singapore Investment Corporation has been a pivotal player in managing the nation's reserves and shaping its financial future. This blog delves into the multifaceted aspects of working at GIC, exploring its rich history, vibrant company culture, enticing benefits, and the dynamic leadership steering its course.

Company History of GIC

The Gove­rnment of Singapore Investme­nt Corporation (GIC) was created by Deputy Prime­ Minister and Monetary Authority Chairman, Dr. Goh Keng Swe­e, in 1981. His vision was to carefully handle Singapore­'s foreign money rese­rves. Today, GIC has grown into an international power in long-term investments.

Throughout time, GIC has adapted to changes in the world economy. Its goal is to protect and increase Singapore's financial asse­ts. GIC’s success comes from its core values labeled as PRIME, standing for prudence­, respect, integrity, me­rit, and excellence­.

Culture at GIC Singapore

At the heart of GIC's work culture are the core values PRIME — Prudence, Respect, Integrity, Merit, and Excellence. 

These values serve as a moral compass for the GIC team, guiding every action and decision made. In addition to PRIME, GIC embraces three key cultural attributes: Ambition, Agility, and Diversity.

• Ambition: GIC's ambition is not only financial; it's about setting high standards, aspiring for excellence, and achieving significant goals in the long term.

• Agility: In a world characterized by rapid change, GIC embraces agility. The organization is ready to adapt swiftly to new challenges, ensuring it stays at the forefront of global long-term investing.

• Diversity: GIC recognizes the power of diversity in fostering innovation. Embracing different capabilities and creativity, GIC aims to be a leading global long-term investor by valuing the richness of varied perspectives and backgrounds.

Diversity, Equity, and Inclusion (DE&I)

Diversity, Equity, and Inclusion (DE&I) are integral components of GIC's organizational ethos, aligning with its core values PRIME. The commitment to DE&I reflects a deep understanding of the importance of fostering an inclusive workplace that values diversity in all forms.

1. Foundational Values: PRIME

• Prudence: GIC's approach to DE&I is marked by prudence, ensuring that initiatives are thoughtful, strategic, and aligned with the organization's long-term goals.

• Respect: Respect is a fundamental value that underpins GIC's commitment to DE&I. It emphasizes treating every individual with dignity and recognizing the unique perspectives and contributions they bring.

• Integrity: Integrity in DE&I practices signifies a commitment to fairness, transparency, and ethical behavior in all aspects of people management and organizational culture.

• Merit: GIC ensures that its people management policies are founded on the principles of merit, ensuring that opportunities and recognition are based on skills, performance, and contributions.

• Excellence: The pursuit of excellence is not only in financial endeavors but also in creating an organizational culture that excels in diversity, equity, and inclusion.

2. Equitable People Management Policies

GIC places a strong emphasis on ensuring that its people management policies are equitable and fair for all employees. This is achieved through creating a level playing field where individuals are recognized for their contributions and merits, no matter their background or identity. Their commitment to equity strongly reinforces their values of Respect and Merit, ultimately fostering an environment where every employee has an equal opportunity to thrive. 

3. Inclusive Practices

Inclusion is a cornerstone of GIC's DE&I efforts. The organization recognizes that an inclusive environment is conducive to exceptional contributions from its diverse workforce. Inclusion goes beyond mere representation—it involves creating an environment where every employee feels valued, heard, and empowered to bring their authentic selves to work. By fostering inclusive practices, GIC ensures that employees can perform at their best, leveraging their unique talents and perspectives for collective success.

4. Diversity as a Strength

GIC firmly believes that diversity is a strength. By explicitly making inclusion a priority, the organization signals to its employees and the broader community that it actively seeks a diversity of talents and thoughts. This commitment is not only a reflection of GIC's values but also a strategic imperative, recognizing that diverse teams bring a wealth of perspectives that contribute to better decision-making and innovation.

5. Building Shared Belonging

In cultivating an inclusive environment, GIC aims to build shared belonging among its diverse teams. When employees from various backgrounds feel included and valued, a sense of shared purpose emerges. This shared purpose extends not only to one another but also to GIC's overarching mission—to invest well for Singapore. Inclusion becomes a catalyst for collaborative efforts, strengthening the sense of belonging to both the organization and each other.

Benefits of Working at GIC

Working at GIC comes with a host of benefits that extend beyond competitive compensation. Here's a glimpse of what employees can expect:

• Competitive Compensation: GIC is renowned for offering competitive salaries and benefits packages. Performance bonuses and long-term incentives are part of the compensation structure, reflecting the organization's commitment to recognizing and rewarding excellence.

• Work-Life Balance: GIC places a premium on work-life balance. Flexible work arrangements, generous vacation time, and wellness programs are in place to ensure that employees can thrive both professionally and personally.

• Professional Development: GIC invests in its employees' professional growth. Extensive training opportunities, mentorship programs, and support for further education enable individuals to continuously enhance their skills and contribute effectively to the organization.

• Employee Well-being: The well-being of their employees is prioritized at GIC. By offering comprehensive medical and dental insurance, childcare subsidies, and other health and wellness programs employees and their families will feel well supported.  

• Global Opportunities: GIC provides employees with the chance to work on international assignments. This exposure to diverse markets and cultures not only enriches individual experiences but also contributes to GIC's global perspective.

• Positive Work Culture: GIC fosters a positive and collaborative work culture that values teamwork, innovation, and continuous learning. Such a culture contributes to employee satisfaction and organizational success.

• Contribution to Society: GIC encourages employees to contribute to the community through various volunteer and social responsibility initiatives. This not only benefits society but also instills a sense of purpose among employees.

Leadership at GIC

GIC's success is steered by a formidable leadership team, each member bringing a wealth of experience and expertise to the table. Lim Chow Kiat, the Chief Executive Officer since January 2017, leads the Group Executive Committee, governing key investment, risk, and business decisions.

• Dr. Jeffrey Jaensubhakij, appointed Group Chief Investment Officer in the same year, oversees GIC's total investment portfolio, collaborating with investment group heads to manage activities across all asset classes.

• Tay Lim Hock, Deputy Group Chief Investment Officer and Chief Operating Officer since July 2019, plays a pivotal role in operational efficiency and investment decision-making.

• Lim Kee Chong, Deputy Group Chief Investment Officer and Director of Integrated Strategies Group since April 2013, adds strategic depth to GIC's investment approach.

• Jin Yuen Yee, Chief Risk Officer since April 2020, heads the overall risk function, ensuring the implementation of risk policies and managing significant risk issues.

• Deanna Ong, Chief People Officer since April 2017, is responsible for attracting, developing, and retaining talent, and fostering the right values and culture for GIC.

• Liew Tzu Mi, Chief Investment Officer for Fixed Income & Multi Asset, has been instrumental since July 2016, leading the department through a transformative renaming in April 2023.

Working at GIC Singapore is an opportunity to be part of a legacy, to contribute to the financial stability and prosperity of a nation. The rich history, vibrant culture, enticing benefits, and dynamic leadership make GIC an employer of choice for those seeking a fulfilling and impactful career in the world of global investments. As GIC continues to evolve and expand its horizons, the journey for employees promises not just professional growth but a chance to be part of something truly transformative.