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Ravi Menon to Continue as MAS’ Managing Director Contrary to Earlier Reports

by Fintech News Singapore May 15, 2023

The Monetary Authority of Singapore (MAS) has re-appointed Ravi Menon as its Managing Director despite earlier reports that he would be stepping down this year. Menon, who turns 59 this year, has served for 12 years at MAS.

The official statement from MAS said that Menon will serve as Managing Director until 31 May 2025 or his retirement, whichever is earlier. Menon will also continue to be a member of the MAS Board during this period.

MAS had also announced the re-appointment of another two existing members to its Board of Directors including Attorney-General Lucien Wong and Chaly Mah, Chairman of NetLink NBN Management.

This if for a further term of three years from 1 June 2023 to 31 May 2026. Mah will also be re-appointed as Chairman of the Audit Committee for the same duration.

Emeritus Senior Minister Goh Chok Tong will step down from his position as Senior Advisor to MAS from 21 May 2023. Since his appointment to this role in May 2011, he has advised the MAS Board and lent his expertise across a wide range of matters. Prior to this, he served as Chairman of the MAS Board from 20 August 2004.

Board of Directors of the Monetary Authority of Singapore with effect from 1 June 2023

Tharman Shanmugaratnam (Chairman)
Senior Minister and Coordinating Minister for Social Policies

Lawrence Wong (Deputy Chairman)
Deputy Prime Minister and Minister for Finance

Heng Swee Keat
Deputy Prime Minister and Coordinating Minister for Economic Policies

Alvin Tan
Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth

Peter Ong (Chairman of Risk Committee)
Chairman, Enterprise Singapore

Chaly Mah (Chairman of Audit Committee)
Chairman, NetLink NBN Management Pte Ltd

Lim Hng Kiang
Special Advisor, Ministry of Trade and Industry

Professor Tan Chorh Chuan
Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation

Lucien Wong
Attorney-General, Attorney-General’s Chambers

Deborah Ong
Retired Partner, PricewaterhouseCoopers LLP

Ng Wai King
Managing Partner, WongPartnership

Ravi Menon
Managing Director, MAS