NTUC Income AR 2018

Dr Sung Cheng Chih was first elected to the Board on 24May 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 GICGroup in 2011. Dr Sung is currently CEO and Executive Director of Avanda Investment Management Pte Ltd. He is also 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, the Advisory Investment Committee of the Bank of Thailand 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 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 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. Richard Shermon DIRECTOR Sung Cheng Chih DIRECTOR Board of Directors 13 2018 ANNUAL REPORT