Chia Der Jiun has been appointed as the new managing director of the Monetary Authority of Singapore (MAS), succeeding Ravi Menon, who is retiring on December 31, 2023.
Facts
- Chia Der Jiun will take over as the Managing Director of MAS, succeeding Ravi Menon.
- Menon’s retirement is surprising as he recently renewed his term and was expected to serve for two more years.
- Chia will become the Managing Director designate from November 1, 2023, until December 31, 2023, and then serve a 29-month tenure starting from January 1, 2024.
- He will also assume the role of director of the MAS board.
- Chia has 18 years of experience at MAS, holding key roles in monetary policy, reserve management, banking supervision, and more.
- His previous roles at MAS include Assistant Managing Director of Markets and Investment and Deputy Managing Director of Corporate Development.
- He improved the operational resilience of Singapore’s national payment systems during his tenure.
- Chia also worked at the International Monetary Fund (IMF) as the Executive Director of Southeast Asia from 2011 to 2013.
- His extensive public service experience extends to Singapore’s Ministry of Trade and Industry and Public Service Division.
