SINGAPORE: The Singapore Economic Development Board (EDB) will have a new managing director from next year, with Mr Jermaine Loy taking over the role, the Ministry of Trade and Industry (MTI) said on Thursday (Nov 21).
Mr Loy will be appointed as managing director-designate of EDB on Jan 1, 2025, and assume the role from Mar 1.
He will replace Ms Jacqueline Poh, who is stepping down as EDB managing director from Mar 1 and will join MTI as deputy secretary (industry) on the same date.
The current principal private secretary (PPS) to Senior Minister Lee Hsien Loong, Mr Loy joined the Prime Minister’s Office (PMO) in April 2021.
Before joining PMO, he was the senior director of the strategic planning division at the Ministry of National Development from August 2017 to March 2021, where he oversaw planning and policies relating to Singapore’s land-use needs.
Mr Loy has also held various positions at the Ministry of Health and MTI, and is a current board member of the Maritime and Port Authority of Singapore.
He will be appointed as a member of the EDB board when he takes over as managing director, while Ms Poh will remain as a board member until she steps down from her role.
Before Ms Poh’s appointment as EDB managing director on Oct 4, 2021, she was the deputy secretary in the PMO’s strategy group. She was also the founding chief executive of the Government Technology Agency of Singapore (GovTech) and the managing director of the former Infocommunications Development Authority.
She also held key positions at the Ministry of Manpower, the Ministry of Finance and the Ministry of Defence.
“In her three-year tenure as managing director of EDB, Ms Poh led the organisation to achieve strong investment commitments as Singapore’s economy recovered from the COVID-19 pandemic,” MTI said.
Her achievements included “record investment commitments in 2022 surpassing EDB’s targets”.
“These accomplishments came amid a challenging global operating environment marked by technological disruption, global tax reforms, and geopolitical uncertainties impacting business decisions,” the ministry added.
