Senior management changes at EDBI
Singapore, 28 November 2022 – EDBI announces the following senior management changes, with Ms. Chu Swee Yeok stepping down from her current role as CEO and President effective from 1 February 2023. Ms. Chu will establish a new fund management entity and further information will be provided at a later date.
Mr. Paul Ng will succeed Ms. Chu and assume her responsibilities. For the past 12 years, Mr. Ng has made significant contributions to EDBI, led investments in the areas of information and communications technology (ICT), including investments in US and Europe, and held other leadership roles in special projects and corporate planning. Prior to joining EDBI, Mr. Ng’s career spanned project management in large-scale IT infrastructure and security systems to investment management in publicly listed consumer companies in non-Asian markets.
Ms. Chu dedicated 36 years of service to the Singapore Economic Development Board (EDB) and its associated entities. She pioneered the setting up of EDB’s healthcare-related investment funds, helped build the founding management teams and subsequently led Bio*One Capital as its founding CEO to invest and catalyse biomedical R&D and manufacturing activities in Singapore. Ms. Chu became CEO of EDBI from 2009 and has been instrumental in transforming EDBI to become a reputable global investor that accelerates growth and builds capabilities in Singapore’s key industries. Under her leadership, EDBI has made many significant investments over the past decade in the ICT, emerging technologies, and healthcare sectors.
Ms. Chu will continue to serve as Senior Adviser to Chairman of EDBI to help guide the company’s continued development and growth.
This change is the result of a deliberate multi-year succession plan to ensure a seamless leadership transition at EDBI.
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