PSD says ‘no information’ on Menon’s reported impending departure from MAS
THE Public Service Division (PSD), a division under the Prime Minister’s Office, said it has “no information to provide” on reports that the Monetary Authority of Singapore’s (MAS) chief Ravi Menon will be leaving the central bank this year.
“The PSD will announce any upcoming changes to the appointment of Permanent Secretaries through official channels and media releases,” was a spokesperson’s response to queries from The Business Times.
Citing people familiar with the matter, a Bloomberg article on Tuesday (Apr 18) said Menon’s former deputy Chia Der Jiun is tipped to succeed the MAS chief after Menon’s term ends on May 31.
An electronic mailer on the same day promoting the Singapore FinTech Festival’s (SFF) inaugural Inclusive FinTech Forum, however, lists Menon as a featured speaker in his capacity as managing director of MAS.
SFF’s Inclusive FinTech Forum event is slated to take place from Jun 20 to Jun 22, 2023.
Menon, who turns 60 this year, has headed MAS as its managing director since 2011. The central bank chief is widely credited for his role in introducing digital banking to Singapore. Under his leadership, MAS issued its first four digital banking licences in December 2020.
Menon has also been closely involved in the launch of several fintech initiatives, such as the establishment of the Financial Sector Technology and Innovation Scheme (FSTI) and its enhanced scheme, FSTI 2.0, the inaugural Swiss-Singapore fintech forum held in August 2022, as well as the recent launch of the ESG Impact Hub, which houses startups, financial institutions and other stakeholders focused on ESG initiatives.
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