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Ravi Menon speaking at the Singapore Fintech Festival in November 2022.

MAS chief Ravi Menon set to step down in 2023: report

Chia Der Jiun is tipped to be the next managing director of Singapore’s central bank.

Monetary Authority of Singapore’s Ravi Menon is poised to step down from his position as managing director of the central bank in 2023, reports Bloomberg, citing people familiar with the matter.

Menon is MAS’ longest-serving chief and has been at the helm of MAS since 2011. His current term ends on 31 May.

Chia Der Jiun, one of his former deputies, would likely take over as chief of MAS, the sources said.

ALSO READ: Singapore ready to provide liquidity to keep financial system stable: MAS

“We have no information to provide at this moment,” a spokesperson for Singapore’s Public Service Division, which appoints top leaders across the city’s public agencies, said in an emailed response to Bloomberg. It will announce any upcoming changes to the appointment of Permanent Secretaries through official channels and media releases, the spokesperson added.

Chia is currently the Ministry of Manpower’s permanent secretary for development. If reports are true, it will mark his return to MAS, where he once served as the permanent secretary for development.

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