Media Releases
Published Date: 28 May 2021

Changes to MAS Board of Directors

Singapore, 28 May 2021... The Monetary Authority of Singapore (MAS) today announced the appointment of Mr Lawrence Wong, Minister for Finance, and Mrs Deborah Ong to its Board of Directors for a term of three years from 1 June 2021 to 31 May 2024. MAS also announced the re-appointments of existing Board members.

2     Minister Wong has also been appointed Deputy Chairman of the MAS Board. He had previously served on the MAS Board from 10 June 2011 to 29 August 2016.

3     Mrs Deborah Ong has been appointed as member of the MAS Board. Mrs Ong recently retired as a Partner of PricewaterhouseCoopers LLP Singapore. She is a board member and chair of the Audit and Risk Committees of SkillsFuture Singapore, Workforce Singapore, the Lee Kong Chian School of Medicine at the Nanyang Technological University, and the Council for Estate Agencies. She is also a board member of SATS Ltd.

4     Mr Lim Hng Kiang, who has served on the MAS Board for 23 years and as its Deputy Chairman since 2006, will step down as Deputy Chairman on 31 May 2021 but will remain as a member of the Board. Mr Ong Ye Kung, Minister for Health, who has served as a member of the MAS Board since 29 August 2016, will step down on 31 May 2021.

5     Mr Tharman Shanmugaratnam, Senior Minister and Coordinating Minister for Social Policies, has been re-appointed as Chairman of the MAS Board for a further term of three years, from 1 June 2021 to 31 May 2024. The following have also been re-appointed as members of the MAS Board for a further term of three years:

(i) Mr Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies;
(ii) Mr Peter Ong, Chairman, Enterprise Singapore, who will also be re-appointed as Chairman of the Risk Committee; and
(iii) Professor Tan Chorh Chuan, Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation.

6     Mr Quek See Tiat, President of the Council for Estate Agencies and Chairman of the Singapore Accounting Standards Council, has been re-appointed as member of the MAS Board for a further term of one year, from 1 June 2021 to 31 May 2022. Mr Quek will also be re-appointed as Chairman of the Audit Committee.

7     Mr Ravi Menon has been re-appointed as a member of the MAS Board and as Managing Director of MAS for a further term of two years, from 1 June 2021 to 31 May 2023.

8     Mr Quek Gim Pew, Senior R&D Consultant, Ministry of Defence, has been re-appointed to the Risk Committee for a further term of three years, from 1 June 2021 to 31 May 2024, as a non-Board member.

9     The members of the MAS Board are listed in the Annex.

 

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Annex

Board of Directors of the Monetary Authority of Singapore
(with effect from 1 June 2021)

Mr Tharman Shanmugaratnam (Chairman)
Senior Minister and Coordinating Minister for Social Policies

Mr Lawrence Wong (Deputy Chairman)
Minister for Finance

Mr Heng Swee Keat
Deputy Prime Minister and Coordinating Minister for Economic Policies

Mr Lim Hng Kiang
Special Advisor, Ministry of Trade and Industry

Mr Quek See Tiat
President, Council for Estate Agencies and Chairman, Singapore Accounting Standards Council

Mr Peter Ong
Chairman, Enterprise Singapore

Professor Tan Chorh Chuan
Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation

Mr Lucien Wong
Attorney-General, Attorney-General’s Chambers

Mr Chaly Mah
Chairman, NetLink NBN Management Pte Ltd

Mrs Deborah Ong
Retired Partner, PricewaterhouseCoopers LLP

Mr Ravi Menon
Managing Director, MAS