https://www.channelnewsasia.com/sin...ng-jan-1-2024-36-years-public-service-3745161
Singapore
MAS chief Ravi Menon to retire on Jan 1, 2024, after 36 years in the public service
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Singapore
MAS chief Ravi Menon to retire on Jan 1, 2024, after 36 years in the public service
Monetary Authority of Singapore chief Ravi Menon will be replaced by permanent secretary for development at the Manpower Ministry Chia Der Jiun.
MAS chief Ravi Menon to retire on Jan 1, 2024, after 36 years in the public service
Outgoing Monetary Authority of Singapore managing director Ravi Menon and his successor Chia Der Jiun. (Photos: Public Service Division)
04 Sep 2023 04:21PM (Updated: 04 Sep 2023 04:42PM)
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SINGAPORE: Managing director of the Monetary Authority of Singapore (MAS), Mr Ravi Menon, will retire on Jan 1, 2024, after serving 36 years in the public service.
MAS had earlier in May announced the reappointment of Mr Menon as MAS chief for another two-year term.
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It said then that he would serve until May 2025 or his retirement from the Singapore Public Service, whichever is earlier.
Bloomberg had reported in April that Mr Menon was set to leave the post after about 12 years in charge.
The 59-year-old started his career at MAS in 1987, the Public Service Division (PSD) said on Monday (Sep 4).
He was awarded the Public Administration Medal (Gold) in 2007 and the Meritorious Service Medal in 2017 for his outstanding contributions to the Public Service.
PSD noted Mr Menon's many achievements and contributions.
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As MAS' longest-serving chief, PSD said he reformed Singapore’s financial regulatory framework and strengthened the enforcement regime against money laundering and market misconduct.
"Mr Menon has also been instrumental to COVID-19 response measures, including low-cost funding for banks to extend to small and medium enterprises, credit and insurance relief for individuals and SMEs, regulatory relief for financial institutions, as well as supporting digitalisation and workforce training for FIs and financial technology firms," it added.
CHIA DER JIUN TO REPLACE RAVI MENON
Mr Menon will be succeeded by Mr Chia Der Jiun, who will be appointed as managing director (designate) of MAS on Nov 1 this year and as managing director on Jan 1.
The 52-year-old will relinquish his appointment as Permanent Secretary (Development) of the Ministry of Manpower (MOM) on the same day, said PSD.
Mr Chia joined MAS in 2004 and held various management appointments before becoming deputy managing director (corporate development) in May 2019.
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He was also seconded to the International Monetary Fund in 2011 for two years as executive director for Southeast Asia.
Prior to MAS, Mr Chia served in the Ministry of Trade and Industry, PSD and the then-Ministry of the Environment and Water Resources.
Mr Chia was appointed as Second Permanent Secretary of MOM in October 2020 and redesignated as Permanent Secretary (Development) in April 2022.
Singapore
MAS chief Ravi Menon to retire on Jan 1, 2024, after 36 years in the public service
Bookmark
Share
ADVERTISEMENT
Singapore
MAS chief Ravi Menon to retire on Jan 1, 2024, after 36 years in the public service
Monetary Authority of Singapore chief Ravi Menon will be replaced by permanent secretary for development at the Manpower Ministry Chia Der Jiun.
MAS chief Ravi Menon to retire on Jan 1, 2024, after 36 years in the public service
Outgoing Monetary Authority of Singapore managing director Ravi Menon and his successor Chia Der Jiun. (Photos: Public Service Division)
04 Sep 2023 04:21PM (Updated: 04 Sep 2023 04:42PM)
Bookmark
Share
SINGAPORE: Managing director of the Monetary Authority of Singapore (MAS), Mr Ravi Menon, will retire on Jan 1, 2024, after serving 36 years in the public service.
MAS had earlier in May announced the reappointment of Mr Menon as MAS chief for another two-year term.
ADVERTISEMENT
It said then that he would serve until May 2025 or his retirement from the Singapore Public Service, whichever is earlier.
Bloomberg had reported in April that Mr Menon was set to leave the post after about 12 years in charge.
The 59-year-old started his career at MAS in 1987, the Public Service Division (PSD) said on Monday (Sep 4).
He was awarded the Public Administration Medal (Gold) in 2007 and the Meritorious Service Medal in 2017 for his outstanding contributions to the Public Service.
PSD noted Mr Menon's many achievements and contributions.
ADVERTISEMENT
As MAS' longest-serving chief, PSD said he reformed Singapore’s financial regulatory framework and strengthened the enforcement regime against money laundering and market misconduct.
"Mr Menon has also been instrumental to COVID-19 response measures, including low-cost funding for banks to extend to small and medium enterprises, credit and insurance relief for individuals and SMEs, regulatory relief for financial institutions, as well as supporting digitalisation and workforce training for FIs and financial technology firms," it added.
CHIA DER JIUN TO REPLACE RAVI MENON
Mr Menon will be succeeded by Mr Chia Der Jiun, who will be appointed as managing director (designate) of MAS on Nov 1 this year and as managing director on Jan 1.
The 52-year-old will relinquish his appointment as Permanent Secretary (Development) of the Ministry of Manpower (MOM) on the same day, said PSD.
Mr Chia joined MAS in 2004 and held various management appointments before becoming deputy managing director (corporate development) in May 2019.
ADVERTISEMENT
He was also seconded to the International Monetary Fund in 2011 for two years as executive director for Southeast Asia.
Prior to MAS, Mr Chia served in the Ministry of Trade and Industry, PSD and the then-Ministry of the Environment and Water Resources.
Mr Chia was appointed as Second Permanent Secretary of MOM in October 2020 and redesignated as Permanent Secretary (Development) in April 2022.
