Longtime MAS Chief Ravi Menon to Retire, Chia Der Jiun to Take Helm – Fintech Singapore

The Monetary Authority of Singapore’s (MAS) longest-serving chief Ravi Menon will be retiring from public service end of this year. He will also step down from the MAS board.

Ravi Menon

Menon played a pivotal role in positioning Singapore as a leading fintech hub where he steered the growth of Singapore’s electronic payment ecosystem, initiated a regulatory sandbox to promote experimentation, and oversaw the introduction of digital banking licenses.

MAS said in a statement,

“The board of directors, management and staff of MAS thank Mr Menon for his visionary leadership as MAS’ Managing Director since 2011 and outstanding contributions during his 29 years with MAS.

During his first 16 years in MAS (1987-2003), Mr Menon was involved in monetary policy, macroeconomic analysis, organisational development, banking regulation, and integrated supervision of complex financial institutions.”

Chia Der Jiun

Menon will be succeeded by Chia Der Jiun as the Managing Director Designate on 1 November 2023. Chia is currently the Permanent Secretary for Development at the Ministry of Manpower.

Chia has over 20 years of experience in the public service, and has held senior positions in the Ministry of Trade and Industry, Public Service Division, and the MAS.

In his previous role at MAS, Chia played a key role in developing and implementing policies to restructure the local banking groups and to liberalise the banking sector. He was also instrumental in the set-up of the Singapore Deposit Insurance Corporation.

While Bloomberg had reported in April that Menon would be stepping down, just a month later MAS released an official statement that he would “serve as Managing Director until 31 May 2025 or his retirement, whichever is earlier”.

• SEO Powered Content & PR Distribution. Get Amplified Today.
• PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
• PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
• PlatoESG. Automotive / EVs, Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
• PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
• ChartPrime. Elevate your Trading Game with ChartPrime. Access Here.
• BlockOffsets. Modernizing Environmental Offset Ownership. Access Here.
• Source: https://fintechnews.sg/77898/fintech/longtime-mas-chief-ravi-menon-to-retire-chia-der-jiun-to-take-helm/