Singapore, 2 December 2011... The Monetary Authority of Singapore (MAS) announced the following changes in its senior management team:

• Lee Chuan Teck, currently Assistant Managing Director (Markets and Investment Group) will take over from Leo Mun Wai as Assistant Managing Director (Capital Markets Group).  Mr Leo will leave MAS in February 2012.
• Dr Andrew Khoo, will relinquish his current position as Assistant Managing Director (Policy, Risk & Surveillance Group) to take over as Assistant Managing Director (Markets and Investment Group). 
• Jacqueline Loh will take over as Assistant Managing Director (Policy, Risk & Surveillance Group) and will relinquish her current portfolio overseeing the Finance, Information Technology & Risk Group;
• Low Kwok Mun, currently Executive Director, Complex Institutions Department (CI), which is part of the Banking & Insurance Group, will be promoted to Assistant Managing Director (Finance, Information Technology & Risk Group).  Lee Boon Ngiap, Assistant Managing Director (Banking & Insurance Group) will oversee CI until a successor to Mr Low has been identified.

The changes will take effect on 1 February 2012.

2   Paying tribute to Mr Leo, Ravi Menon, Managing Director, MAS, said, "Mun Wai has given 13 years of outstanding service to MAS.  He has made a deep impact across a variety of MAS’ functions, strengthening and transforming the areas that he worked in – ranging from the first round of banking liberalisation in 1998 to MAS’ human resource policies and steering our banking sector through the 2008/2009 global financial crisis.  MAS has benefited from Mun Wai’s judgement and ability to manage a range of complex issues. We thank him and wish him the best in his future endeavours."

***