Monetary Authority of Singapore reshuffles leadership

Changes made as two senior leaders depart from the regulator

Monetary Authority of Singapore reshuffles leadership

Insurance News

By Gabriel Olano

The Monetary Authority of Singapore (MAS) has announced several changes to its management team, all effective April 01, in preparation for the departure of two senior leaders.

Ho Hern Shin (pictured left), assistant managing director (banking & insurance) since 2017, is appointed deputy managing director (financial supervision). She succeeds Ong Chong Tee (pictured right), who is leaving MAS.

The central bank re-designated two assistant managing directors.

Lim Tuang Lee, currently assistant managing director (organisation & people development), will take on the role of assistant managing director (capital markets). He will replace Lee Boon Ngiap, who is also leaving MAS.

Bernard Wee, currently assistant managing director (finance, risk & currency), will become assistant managing director (markets & investment).  He will take over from Leong Sing Chiong, deputy managing director (markets & development), who held the responsibilities on an interim basis since February 01.

The regulator also promoted three of its executive directors to assistant managing directors.

Marcus Lim, currently executive director (banking department I), will become managing director (banking & insurance), taking over the role vacated by Ho.

Cindy Mok, currently executive director (monetary & domestic markets management) and executive director (organisation development & communications), will become assistant managing director (finance, risk & currency), succeeding Wee.

Wong Zeng Yi, currently executive director (banking department II), will be appointed assistant managing director (organisation & people development), succeeding Lim Tuang Tee.

“MAS is deeply grateful to Chong Tee and Boon Ngiap for their leadership and significant contributions over 35 years each of dedicated service,” said Ravi Menon, MAS managing director.

“Chong Tee served as deputy managing director for 16 years, across all four of MAS’ key functions: first, in the areas of monetary policy, investment management, and financial development; and then, in financial supervision… Boon Ngiap has been one of MAS’ most versatile leaders, making strong contributions in banking and insurance supervision, capital markets regulation, financial centre development, and domestic monetary management.”

“We wish them the best for their future,” said Menon.

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