Singapore, 27 March 2014... The Monetary Authority of Singapore (MAS) announced the following changes to its senior management team:

• Mrs Foo-Yap Siew Hong, currently Assistant Managing Director (Special Projects) in the Managing Director’s Office, will retire from MAS on 31 March 2014.
• Mr Lee Chuan Teck, currently Assistant Managing Director (Capital Markets) will be seconded to the Ministry of Transport as Deputy Secretary (Land and Corporate).
• Mr Lee Chuan Teck will be succeeded by Mr Lee Boon Ngiap, who will relinquish his current position as Assistant Managing Director (Banking & Insurance).
• Mr Chua Kim Leng, currently Executive Director, Banking Department I, will be appointed as Assistant Managing Director (Banking & Insurance).

The changes will take effect on 1 April 2014.

2   Paying tribute to Mrs Foo-Yap Siew Hong, Mr Ravi Menon, Managing Director, MAS, said “Siew Hong has given 39 years of dedicated service to MAS. She has made a significant impact across a variety of MAS’ functions and has helped to lay the foundation for MAS’ early approach to banking supervision, formulated the tools and techniques for risk-based supervision, and groomed a generation of MAS bank supervisors. We thank her for her many contributions and wish her the best in her future pursuits.”

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