By David Ramli

(Bloomberg) – GIC's Chief Investment Officer Jeffrey Jaensubhakij plans to step down after almost three decades at the Singaporean firm, one of the world’s biggest sovereign wealth funds, according to people familiar with the matter.

The departure of Jaensubhakij, 58, is the biggest leadership change at GIC since January 2017, when he was made group CIO and his predecessor Lim Chow Kiat became chief executive officer. Deputy Group CIO Bryan Yeo, 46, is expected to be promoted to the top investment role in April, two of the people said, asking not to be identified because the matter is private.