Story Highlights:
- Minister for Transport and Second Minister for Finance Chee Hong Tat was appointed to the MAS board of directors for a 3-year term.
- Five existing MAS board members were reappointed for another 3-year term.
- Long-serving board member Professor Tan Chorh Chuan to step down after over a decade of service.
The Monetary Authority of Singapore (MAS) has added a fresh face to its board of directors, appointing Minister for Transport and Second Minister for Finance Chee Hong Tat to a three-year term beginning June 1st. The move signals a reinforcement of leadership at Singapore’s central bank.
Seasoned Veterans Reappointed
In addition to Minister Chee’s appointment, MAS has reappointed five existing board members for another three-year stint. Those reappointed include Deputy Prime Minister Heng Swee Keat, Alvin Tan, Peter Ong, Deborah Ong, and Ng Wai King. Their new terms will also commence on June 1st and run through May 31, 2027.
“His Clear Thinking Was a Tremendous Asset” As the board undergoes its refresh, one long-serving member is departing. Professor Tan Chorh Chuan will step down on May 31st after over a decade of service since his appointment in June 2012.
Praising Professor Tan’s contributions, MAS Chairman Lawrence Wong remarked, “His clear thinking and ability to bring a systems view to complex problems was a tremendous asset for the MAS board. He provided useful inputs that contributed to more robust decisions that enabled MAS to build stronger organizational capabilities in technology and risk management.”
The nine-member MAS board is helmed by Mr. Wong, who serves as Chairman, and Minister for Trade and Industry Gan Kim Yong as Deputy Chairman. Other members include Chaly Mah, Lim Hng Kiang, Lucien Wong, and Chia Der Jiun.
Through its leadership additions and reappointments, MAS aims to maintain strong governance and oversight as it navigates an ever-evolving financial landscape. Minister Chee Hong Tat’s appointment brings a fresh perspective from his experience leading the transport and finance portfolios.
