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Finance Minister Lawrence Wong appointed deputy chairman of MAS board of directors

Finance Minister Lawrence Wong appointed deputy chairman of MAS board of directors

A view of the Monetary Authority of Singapore's headquarters on Jun 28, 2017. (File photo: Reuters/Darren Whiteside)

SINGAPORE: Finance Minister Lawrence Wong has been appointed deputy chairman of the Monetary Authority of Singapore's (MAS) board of directors, the central bank said on Friday (May 28).

He will join the board from Jun 1 to May 31, 2024. He previously served on the board from Jun 10, 2011, to Aug 29, 2016.

Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam and Mr Ravi Menon have been reappointed to the board and will continue in their posts as chairman and managing director respectively. 

Mr Tharman will be chairman of the board for a further three years from Jun 1, while Mr Menon will be managing director for a further two years from Jun 1.

MAS has also appointed Mrs Deborah Ong, a recently retired partner of PricewaterhouseCoopers LLP Singapore, to its board of directors for a term of three years from Jun 1.

Mrs Ong is also 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.

The board's current deputy chairman Lim Hng Kiang will step down on May 31 from the post he has held since 2006, and will remain as a member of the board, MAS said. 

Health Minister Ong Ye Kung will step down as a MAS board member on the same day. He has been a board member since Aug 29, 2016. 

OTHER RE-APPOINTMENTS

The central bank also announced other reappointments to its board for a further term of three years. They are:

- Deputy Prime Minister and Coordinating Minister for Economic Policies Heng Swee Keat;

- Mr Peter Ong, chairman of Enterprise Singapore, who will also be re-appointed as chairman of the risk committee; and 

- Professor Tan Chorh Chuan, Chief Health Scientist at the Ministry of Health (MOH) and executive director, MOH Office for Healthcare Transformation. 

Mr Quek See Tiat, president of the Council for Estate Agencies and chairman of the Singapore Accounting Standards Council, has also been reappointed for a further term of one year from Jun 1. He will also be re-appointed as chairman of the audit committee, MAS said. 

Mr Quek Gim Pew, senior R&D consultant at the Ministry of Defence, has been re-appointed to the risk committee for a further term of three years from Jun 1, as a non-board member.

Source: CNA/vc

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