Get to know our GCIO and his new investment ideas and strategies to position GIC for the future.

Bryan Yeo was appointed Group Chief Investment Officer (GCIO), effective April 2025. He joined GIC in 2003 and has held roles including Head of Credit Markets, Head of Fixed Income Americas, Head of Credit Research and Strategy, Director of the Integrated Strategies Group, and Chief Investment Officer for Public Equities.

As GCIO, Bryan oversees GIC’s total investment portfolio and works with investment group heads to develop and manage investment strategies across all asset classes. Over the last year, he has been working on setting GIC up for long-term success in an increasingly uncertain global landscape.

We caught up with Bryan to learn more about him as an investor and as a leader, as well as understand how he is positioning GIC for the future.

Why did GIC change its investment framework?

For several years now, we have shared that the global investment landscape has changed fundamentally. Three forces are driving a more volatile and less predictable investment environment: the changing world order, rising fiscal risks, and advancements in AI. These forces pointed to the need for more flexibility and agility in our investment framework. 

At the same time, since our review of our investment framework in 2012, we have continued to strengthen our active investment capabilities, build expertise in creating value for our investee companies, deepen strategic partnerships, and broaden our global network, enabling us to expand more quickly into new geographies and asset classes. 

Since April 2026, we have started transitioning to a refreshed investment framework that is better adapted to the changing investment conditions. A key feature of the refreshed framework is the Strategic Portfolio (SP), which represents our Client’s risk appetite and long-term return expectation.

The SP is made up of three broad asset groups that capture the three main drivers of returns: Equities (growth), Fixed Income (income), and Real Assets (inflation). This enables us to allocate capital more nimbly and flexibly across asset classes. The GIC Portfolio will be constructed based on the principles of diversification, granularity, and agility, and will continue to consist of a broad range of strategies. Its key objective is to outperform the SP over the long term, while adhering to the approved risk limits. 

Together, these changes will make the GIC Portfolio more resilient while capturing excess returns across different market cycles. I am confident it will improve our ability to fulfil our long-standing mandate to preserve and enhance the international purchasing power of the reserves under our management.

How would you describe your own approach to investing?

I would use two words: flexible and bold.

Flexible because although we cannot always get our market calls right, we can certainly improve our odds. Firstly, we can gain insights by gathering and analysing qualitative and quantitative data through various lenses – including macro, micro, and relationship-driven – and connecting all these dots can help us make better decisions. Secondly, we must have the mental agility to pivot quickly when our thesis is not playing out. Recognising and cutting our bad positions early and quickly is also key in delivering strong investment results.

Bold because investing well requires good offensive and defensive moves, as well as the confidence to be contrarian at critical points. On offence, we have to be willing to step up to take the risk when a clear market dislocation or opportunity presents itself in size and with conviction. Generational investment opportunities are to be capitalised on. On defence, capital allocation shifts and pivoting the portfolio construction are key upon early recognition of significant market and idiosyncratic risks through our multi-lens approach.

What is your leadership style like?

I encourage debate in my teams because I value diverse perspectives. As GCIO, I want to continue building a culture of openness across the firm, so that insights are shared confidently and trust is strengthened across teams and strategies. Synergising GIC’s top-down perspectives and bottom-up insights can be a strong competitive edge in capital deployment and optimising the total portfolio construction.

I also see significant opportunity for GIC to sharpen its edge by harnessing our global network, using AI more effectively, strengthening communication and collaboration, and evolving our organisational setup where needed. I believe in considering a range of outcomes, as well as acting clearly and decisively to do right by GIC.