He is also deputy chairman of GIC – since 2019 – and chairs its Investment Strategies Committee.
His previously held portfolios include deputy prime minister, finance minister and education minister.
Before stepping into politics, he spent most of his professional career at MAS.
On the international stage, Mr Tharman has been chairman of the Group of 30, an independent global council of leading economic and financial policymakers, since January 2017.
Since April 2017, he has also been chairing the Group of 20 Eminent Persons Group on Global Financial Governance, to review the system of multilateral financial institutions.
Mr Tharman’s decision to stand raises questions about who will take over his current posts and cover for him in his constituency. He is the anchor minister of Jurong GRC, which is also represented by Senior Parliamentary Secretary for Health and Law Rahayu Mahzam, Dr Tan Wu Meng, Mr Xie Yao Quan and Mr Shawn Huang.
There is no requirement under the law to call a by-election if an MP resigns, even if that member is a minority.
In 2017, when Madam Halimah made her plans known that she would be stepping down as MP of Marsiling-Yew Tee GRC, she said she would ask Prime Minister Lee Hsien Loong to assign another MP to her constituency to help out.