Singapore Economic Development Board names new managing director

The Ministry of Trade and Industry (MTI) has unveiled a new leadership transition at the Singapore Economic Development Board (EDB). Jermaine Loy (pictured right) is set to be appointed as the managing director (MD)-designate on 1 January 2025, moving to the role of MD by 1 March 2025.

He will succeed Jacqueline Poh (pictured left), who will transition from her current role at EDB to join MTI as deputy secretary (Industry) on 1 March 2025.

Loy will also become a member of EDB's board starting 1 March 2025. During the transition period, Poh will remain as an ex-officio board member until her departure from the MD position.

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Loy's career includes serving as the principal private secretary to Senior Minister Lee Hsien Loong since April 2021 within the Prime Minister’s Office. His prior roles include senior director at the Ministry of National Development's Strategic Planning Division, and positions within the Ministry of Health and the Ministry of Trade and Industry. He is also on the Board of the Maritime and Port Authority of Singapore.

Poh has led EDB since October 2021 and her tenure included steering the organisation to achieve strong investment commitments as Singapore emerged from the COVID-19 pandemic, notably surpassing EDB’s targets in 2022, it said. 

Her leadership emphasised development in the digital economy, artificial intelligence, precision medicine, sustainability, and innovation. Poh also focused on strengthening relationships with global industry leaders and the startup sector.

“On MTI’s behalf, I would like to thank Jacqueline for her invaluable contributions to EDB, which have enhanced Singapore’s position as a global centre for business, innovation and talent. We welcome Poh to MTI and look forward to working with her in her new capacity. We are also excited for Loy to bring his vision, passion and commitment to EDB, so that EDB continues to forge ahead with strategies that will bring about transformative change and strengthen Singapore’s economic competitiveness," said Beh Swan Gin, permanent secretary for MTI.

This leadership shift is aimed at ensuring the continuity of EDB's strategic objectives and advancing Singapore's economic landscape.

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