MAS appoints Chia Der Jiun as managing director with Ravi Menon set to retire
Chia Der Jiun has been appointed as the new managing director of the Monetary Authority of Singapore (MAS). He will succeed Ravi Menon, who is retiring from the Singapore Public Service and stepping down from the role on 31 December 2023.
Chia Der Jiun will succeed Ravi Menon as MD of MAS
Menon’s decision to retire has come as a surprise to the industry as he only renewed his term three months ago and was set for a two-year tenure.
Chia will serve as managing director designate from 1 November 2023 until 31 December 2023, before starting a 29-month tenure as managing director from 1 January 2024. He will also serve as director of the MAS board.
Currently serving as permanent secretary of Singapore’s manpower ministry, a position he has held since 2022, Chia has spent around 18 years at MAS, leading major functions in monetary policy implementation, reserve management and banking supervision, among other areas.
His previously roles at the regulator include assistant managing director of markets and investment and deputy managing director of corporate development, where he improved the operational resilience of Singapore’s national payment systems.
He also worked for the International Monetary Fund (IMF) for two years between 2011 and 2013 as executive director of Southeast Asia, while his professional experience in public service also extends to Singapore’s ministry of trade and industry, public service division.
