Up the ranks: Jermaine Loy to succeed Jacqueline Poh as MD of Singapore EDB effective 1 Mar 2025

Jacqueline Poh will be taking on the role of Deputy Secretary (Industry) at the Ministry of Trade and Industry effective the same date.

Singapore's Ministry of Trade and Industry (MTI) announced on Thursday (21 November 2024) that Jermaine Loy (pictured above, right), currently the Principal Private Secretary to Senior Minister Lee Hsien Loong, will be appointed as Managing Director (MD)-Designate of the Singapore Economic Development Board (EDB) on 1 January 2025.

He will then take over as MD of EDB on 1 March 2025, at the same time joining as a member of the EDB board.

Loy will be succeeding Jacqueline Poh (pictured above, left) who will be stepping down as MD of EDB from 1 March 2025, to take on the role of Deputy Secretary (Industry) at MTI effective the same date.

Poh will remain as a board member (ex-officio) on the EDB board until she steps down as MD of EDB.

Loy joined the Prime Minister’s Office (PMO) in April 2021 and served as the Principal Private Secretary to then-Prime Minister and current Senior Minister Lee Hsien Loong. Prior to joining PMO, he was 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.

Loy also held various positions at the Ministry of Health and the Ministry of Trade and Industry, and serves on the Board of the Maritime and Port Authority of Singapore.

Meanwhile, Poh was appointed MD of EDB on 4 October 2021. Prior to EDB, she was Deputy Secretary in the Prime Minister’s Office Strategy Group. She was also the founding Chief Executive of the Government Technology Agency of Singapore (GovTech), and Managing Director of the former Infocommunications Development Authority (IDA). She has also held key positions at the Ministry of Manpower, the Ministry of Finance, and the Ministry of Defence.

According to MTI, in her three-year tenure as MD of EDB, Poh led the organisation to achieve strong investment commitments as Singapore’s economy recovered from the COVID-19 pandemic. This 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.

Under her leadership, EDB worked closely with partner agencies to develop important areas like the digital economy, artificial intelligence, precision medicine, sustainability, innovation and leadership development. She is also lauded for the significant role she played in strengthening Singapore’s presence in key international business fora, and deepening EDB’s relationship with global leaders in key industries and corporations, especially in the technology and startup space.

Commenting on the role changes, Dr Beh Swan Gin, Permanent Secretary, MTI, said: "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 Jacqueline to MTI and look forward to working with her in her new capacity.

"We are also excited for Jermaine 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."

Photo: MTI, shared on EDB's website