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The Monetary Authority of Singapore Welcomes New Leadership After More Than a Decade

The Monetary Authority of Singapore (MAS) is set to usher in a new era of leadership after more than a decade under the stewardship of Mr. Rawee Menon, the current Managing Director of MAS, who is preparing to retire from his esteemed position.

In an official announcement made on Monday, September 4th, MAS revealed that Mr. Chia Der Jiun, currently serving as the Permanent Secretary of the Ministry of Labor in Singapore, will assume the role of Managing Director of MAS. Mr. Chia is scheduled to commence his duties in this capacity starting in January 2024.

This transition marks a significant milestone in MAS’s history, as it will be the first time in approximately 13 years that the organization has seen a change in its top leadership. Mr. Rawee Menon assumed the role of Managing Director in 2011 and is expected to conclude his tenure at the end of May 2025 or upon his retirement.

Mr. Chia brings a wealth of experience to his new role, having dedicated 18 years of his career to MAS. During his tenure, he has undertaken various critical responsibilities, including overseeing monetary policy implementation, supervising the banking sector, and actively contributing to the management of the macroeconomy.

The appointment of Mr. Chia Der Jiun signifies continuity and expertise within the MAS leadership, ensuring a seamless transition as the organization continues to play a pivotal role in maintaining financial stability and promoting economic growth in Singapore.

As Singapore grapples with evolving economic challenges and opportunities on the global stage, the new leadership at MAS will be instrumental in shaping the nation’s financial landscape and charting a course for sustainable economic development.

The Monetary Authority of Singapore, known for its commitment to maintaining a stable and resilient financial system, will undoubtedly benefit from Mr. Chia’s extensive experience and insights as it navigates the intricate terrain of modern finance. The appointment of new leadership signals the organization’s readiness to adapt and respond effectively to the dynamic and ever-changing financial landscape both regionally and globally.

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