NTUC Income AR 2017

BOARD OF DIRECTORS 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 for 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 in NUS, and Wealth Management Institute in 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 Center 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. Mr Richard Shermon was first elected to the Board on 24 May 2011 and last re-elected as Director representing the Founder Member on 3 June 2014. He is a member of the Audit and Risk Management Committees. Mr Shermon, originally from the UK, is now an Australian citizenmanaging 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 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. Mr Heng Chee How was first elected to the Board on 23 May 2012 and last re-elected as Director representing the Founder Member on 29 May 2015. He is a member of the Risk Management Committee. Mr Heng is the Deputy Secretary-General of NTUC. He started his career in the Singapore Police Force before moving to NTUC in 1995. He also serves on the Board of NTUC Enterprise Co-operative Ltd and as a trustee and advisor to several trade unions. Mr Heng holds a Master of Arts from Cambridge University and a Master in Public Administration from Harvard University. SUNG CHENG CHIH DIRECTOR RICHARD SHERMON DIRECTOR HENG CHEE HOW DIRECTOR 12 NTUC INCOME INSURANCE CO-OPERATIVE LIMITED ANNUAL REPORT 2017