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The former chief investment officer of Singapore sovereign wealth fund GIC Pte and chairman of multibillion-dollar investment firm Avanda Investment Management, Ng Kok Song, plans to run for president, pitting him against his one-time superior, Tharman Shanmugaratnam.

(Bloomberg) -- The former chief investment officer of Singapore sovereign wealth fund GIC Pte. and chairman of multibillion-dollar investment firm Avanda Investment Management, Ng Kok Song, plans to run for president, pitting him against his one-time superior, Tharman Shanmugaratnam.Most Read from BloombergSingapore Passport Is World’s Most Powerful, Replacing JapanTesla Investor Rode a 14,800% Gain Thanks to 27-Year-Old AnalystMeet the Billionaire Who Convinced Messi to Pick MLS Over Sau...

Ng, 75, spent more than four decades working up the ranks of public service until his retirement in 2013 and helped shape the creation of GIC, which is estimated to manage about $690 billion in assets. Over his career hes built relationships with the likes of hedge fund billionaire Ray Dalio and Gordon Brown, a fellow member of Pimcos six-person global advisory board.

Pink tax is a worldwide phenomenon that refers to a premium that women are expected to pay for specific services or products marketed toward them. These are often more expensive compared to similar products that are marketed for men. This results in women paying more as they shop for goods and services such as toys from a young age, to...