Ref No: 02/2005
DBSAM Appoints Lau Wing Tat As CO-CIO
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Former GIC fund manager will oversee DBSAM's equities portfolio
SINGAPORE, January 31, 2005 - DBS Asset Management (DBSAM), a wholly-owned subsidiary of DBS Bank, has appointed Lau Wing Tat as Managing Director and co-Chief Investment Officer with effect from 1 Feb 2005.
Wing Tat, 50, joins DBSAM's leadership team which comprises Greg Seow as executive chairman, Lim Heong Chye, managing director and co-CIO, and Nancy Kan, senior vice-president and Chief Operating Officer. Wing Tat has more than 20 years of experience in the fund management industry and was previously with the equities department of the Government of Singapore Investment Corporation (GIC).
DBSAM executive chairman Greg Seow said : "Wing Tat's proven track record and management skills will enhance our fund management capabilities and position us to tap new opportunities in Asia's fast-growing money management industry. He will oversee our fast growing equities portfolio, with Heong Chye continuing to be responsible for all fixed income at DBSAM."
Mr Seow added: "Since 2000, DBSAM has been able to increase its assets under management rapidly. Total funds amount to $11 billion at present. We plan to keep up that pace of growth and are committed to hiring talented individuals who can help us continue to achieve good investment returns for our investors."
Mr Lau is an engineer by training and a qualified Chartered Financial Analyst. Graduating with first class honours in mechanical engineering from the University of Singapore, he spent 20 years with GIC handling investments in equities. He has extensive experience in managing investment teams and equities investment portfolios in Asian, Japanese, US and European stock markets. As a member of the senior management team at the GIC Equities Department, he was also actively involved in developing and implementing its investment and risk management processes and advising on its trading operations. Mr Lau left GIC in 2003 and was until end-2004, Executive Director and head of corporate planning of GD Express in Malaysia.