The Board of Directors has the overall responsibility for managing the affairs of the Co-operative. This includes reviewing its financial performance, setting its strategic direction and performance objectives, and reviewing major corporate initiatives.
Ronald Ong
Chairman
Mr Ronald Ong was co-opted to the Board as Director representing the Founder Member on 23 August 2018. He was appointed Chairman of the Board on 1 January 2019.
Mr Ong is the Chairman and CEO (South-East Asia) at Morgan Stanley. He has been with Morgan Stanley for 20 years and has over 30 years of experience as a banker with substantial experience in mergers and acquisitions, as well as, capital markets.
Mr Ong is also a Board Member of NTUC FairPrice Co-operative Limited. In addition to being a member of the Listings Advisory Committee of the Singapore Stock Exchange, Mr Ong also serves on the Advisory Board of the Lee Kong Chian School of Business at the Singapore Management University (SMU) and the Sim Kee Boon Institute for Financial Economics, also at SMU. Previously, he was a council member of the Securities Industry Council and committee member of the 1st Capital Markets Committee of the Monetary Authority of Singapore.
Kee Teck Koon
Deputy Chairman
Mr Kee Teck Koon was elected to the Board on 3 June 2014 as Director representing the Founder Member. He is the Deputy Chairman of the Board and a member of the Investment, Nominating and Human Resource & Remuneration Committees.
Mr Kee is currently non-executive Chairman of Changi Airports International Pte Ltd. He is Executive Director of NTUC Enterprise Co-operative Limited, and also holds directorships in Raffles Medical Group Ltd and Capitaland Limited, among others.
Mr Kee started his career in 1979 with the Singapore Armed Forces and was with the Ministry of Defence until 1991. Thereafter, he held senior management appointments with several organisations before joining the Capitaland Group in 2003. After holding several senior positions, he retired as the Chief Investment Officer of CapitaLand Limited in July 2009.
Mr Kee holds a Master of Arts from Oxford University.
Sung Cheng Chih
Director
Dr Sung Cheng Chih was first elected to the Board on 24 May 2011 and last re-elected as Director representing the Founder Member on 26 May 2017. He is the Chairman of the Risk Management, Nominating, and Human Resource & Remuneration Committees. He is also the lead independent director on the Board. Dr Sung joined Government of Singapore Investment Corporation (GIC) in 1993 and retired as Managing Director and Chief Risk Officer of the GIC Group in 2011.
Dr Sung is currently CEO and Executive Director of Avanda Investment Management Pte Ltd, Investment Advisor to the Singapore Ministry of Finance, and non-Executive Director of MIT Investment Management Company, Centre for Asset Management Research & Investments at NUS, and Wealth Management Institute at NTU. He is also serving on the Expert Panel of the Ministry of Finance in Norway, the Investment and Risk Advisory Panel of the Monetary Authority of Singapore, and the Advisory Board of the Centre for Finance and Policy at the Massachusetts Institute of Technology.
Dr Sung studied Applied Mathematics at the University of Waterloo and holds a PhD degree in Pure Mathematics from the University of Minnesota.
Richard Shermon
Director
Mr Richard Shermon was first elected to the Board on 24 May 2011 and last re-elected as Director representing the Founder Member on 26 May 2017. He is a member of the Audit and Risk Management Committees.
Mr Shermon, originally from the UK, is now an Australian citizen managing his own financial consultancy business based in Melbourne. He has more than 25 years of experience in financial services, of which he was the CEO of AXA Life Insurance in Singapore for three years. He is a qualified actuary and has a strong background in actuarial science, as well as, a good knowledge of the insurance business in the UK, Australia and Singapore.
Mr Shermon holds an honours degree in Mathematics from the Oxford University and is a Fellow of the Faculty and Institute of Actuaries, UK.
Choong Tuck Oon
Director
Mr Choong Tuck Oon was first elected to the Board on 23 May 2012 and last re-elected as Director representing the Ordinary Members on 25 May 2018. He is a member of the Risk Management and Investment Committees.
Mr Choong was with Accenture for more than 20 years until his retirement as Senior Partner in the Financial Services Asia-Pacific practice. He had led strategy, transformation and technology initiatives for more than 20 regional and global banks, as well as insurance companies in Singapore and Asia-Pacific.
He also previously held independent non-executive director positions in commercial banks, Islamic bank, private equity firm and stockbroking firm in the region. Mr Choong’s current interests are in digital start-ups, e-commerce and fintech, and he mentors and advises start-ups under various incubators and accelerators in Singapore.
Mr Choong holds a Bachelor of Science degree (First Class Honours) from the University of Malaya, a Master of Science degree from the Asian Institute of Technology and Executive Diploma in Directorship from Singapore Management University.
Lau Wing Tat
Director
Mr Lau Wing Tat was first elected to the Board on 5 June 2013 and last re-elected as Director representing the Institutional Members on 26 May 2016. He is the Chairman of the Investment Committee and a member of the Nominating and Human Resource & Remuneration Committees.
Mr Lau is currently a Director of the Central Provident Fund Board and Hyflux Limited. Mr Lau joined the Government of Singapore Investment Corporation (GIC) in 1983 for a career in Investment Management. He was with GIC for the next 20 years, where he played a number of different roles in various departments. Between February 2005 and June 2007, Mr Lau served as the Chief Investment Officer and Chief Executive Officer of DBS Asset Management, a wholly-owned subsidiary of the DBS Group. Thereafter, he took on several directorships and advisory roles.
Mr Lau has a First Class Honours degree in Mechanical Engineering from the University of Singapore and is a Chartered Financial Analyst.
Joy Tan
Director
Ms Joy Tan was co-opted to the Board on 8 May 2017 and formally elected as Director representing the Founder Member on 26 May 2017. She is a member of the Risk Management, Nominating and Human Resource & Remuneration Committees.
Ms Tan is the Deputy Head of the Commercial & Corporate Disputes Practice and the Joint Head of the Corporate Governance & Compliance Practice of WongPartnership LLP. She is also a Partner in the Employment Practice.
Ms Tan serves as the Vice-Chair of the Industrial & Services Co-operative Society, and is a member of the Board, Audit Committee and Risk Committee of the Singapore Health Services, as well as, an independent director of PEC Limited. She was also a member of the Ministry of Health’s Agency for Care Effectiveness Council.
Ms Tan is the Vice-Chairwoman on the Board of the Singapore Repertory Theatre, where she also serves as the Chairwoman of its Nominating and Remuneration Committee. She is a panel member of The Law Society Disciplinary Tribunals and sits on the panel of arbitrators of the Singapore International Arbitration Centre. Ms Tan is also a member of the Singapore Association of Women Lawyers.
Ms Tan graduated with First Class Honours from Cambridge University and was awarded the UK Council of Legal Education Prize at the Non-Vocational Bar Exam. She is admitted to both the English and Singapore Bars.
Pang Wai Yin
Director
Ms Pang Wai Yin was co-opted to the Board on 27 February 2017 and formally elected as director representing the Institutional Members on 26 May 2017. She is the Chairperson of the Audit Committee and a member of the Risk Management Committee.
Ms Pang’s prior experience included 6 years of external audit work in a public accounting firm, and 17 years spent in various risk management roles at GIC Pte Ltd. She retired from GIC on 1 July 2014 as Managing Director and Director of the Risk & Performance Management Department. She has extensive experience in formulating risk governance framework and risk management policies, as well as, implementing risk management systems, processes and a sound internal control environment.
Ms Pang is currently an independent director of Avanda Asia Vantage Fund and Avanda Asia Vantage Master Fund.
Ms Pang holds a degree in Accountancy from the National University of Singapore and a Masters in Applied Finance from Macquarie University. She is a member of the Institute of Singapore Chartered Accountants.
Sim Hwee Cher
Director
Mr Sim Hwee Cher was co-opted to the Board as Director representing the Institutional Members on 23 August 2018. He is a member of the Audit and Risk Management Committees.
Mr Sim was the Vice Chairman (Operations), Assurance leader and member of the Leadership Team at PricewaterhouseCoopers LLP (PwC) before his retirement in July 2018. He had been with PwC since 1981 and was a member of the PwC Executive Board in Singapore, China, Hong Kong and Taiwan. He has over 30 years of audit experience in planning, executing and managing audits of large companies in the manufacturing, real estate, construction, insurance and trading industries.
Mr Sim is currently a Council Member of the Community Chest, a member of the National University of Singapore School of Accounting Advisory Council and a Director (Audit & Risk Committees) of Mandai Park Holdings Pte Ltd.
Mr Sim holds a Bachelor of Accountancy (Honours) from the National University of Singapore (NUS) and is a certified Chartered Accountant. He is a Fellow of the Chartered Public Accountants of Australia and a Fellow of the Association of Chartered Certified Accountants of United Kingdom.
Sim Hwee Hoon
Director
Ms Sim Hwee Hoon was elected to the Board as Director representing the Ordinary Members on 26 May 2017. She is a member of the Audit, Nominating and Human Resource & Remuneration Committees.
Ms Sim was the Regional Chief Operating Officer of Private Wealth Management Asia in Morgan Stanley from 2010 to 2016. She was also the CEO of Morgan Stanley Asia International Limited, Singapore Branch, and sat on the Board of Directors of Morgan Stanley Asia International Limited.
Before Morgan Stanley, Ms Sim spent 12 years with JPMorgan Private Bank Asia. Her appointments included being the Asia Regional CFO from 2006 to 2010 and Asia Head of Risk Management from 1998 to 2006. She also sat on the Board of Directors of JPMorgan International Bank Limited (UK incorporated) and JPMorgan Securities Asia Private Limited.
Prior to JP Morgan, Ms Sim was an Interest Risk Controller at UBS Investment Banking, Singapore Branch from 1993 to 1998, where she was responsible for market risk management and product control of the interest rate, credit and derivatives business.
Ms Sim holds a Master of Finance degree from the Royal Melbourne Institute of Technology and an Honours degree in Bachelor of Accountancy from the National University of Singapore.
Neo Chin
Director
Ms Neo Chin was co-opted to the Board as Director representing the Founder Member on 15 April 2019. She is a member of the Investment Committee.
Ms Neo is currently the Chief Investment Officer at the Singapore University of Technology and Design (SUTD). Prior to joining SUTD, she spent over 20 years of her investment career at the GIC in various investment roles. Her investment experience spans across global treasury management, global fixed income and currencies management, external manager mandates, alternative investments and multi-strategy fund-of-funds portfolio management.
Ms Neo graduated with a Bachelor of Business Administration (Hons) from the National University of Singapore. She is a CFA charter holder.