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Menon set to leave Singapore central bank

Ravi Menon, the longest-serving chief of the Monetary Authority of Singapore (MAS), is expected to step down from his position this year, according to sources familiar with the matter. Menon has led the MAS since 2011, and his current term will end on May 31. The sources said that Chia Der Jiun, a former MAS deputy, is expected to succeed him, although the Public Service Division, which appoints top leaders in public agencies, declined to comment. Chia currently serves as the Ministry of Manpower's permanent secretary for development, and was a 16-year veteran of the MAS before joining the ministry in 2020. Menon's future plans are unclear. During his tenure, he helped steer Singapore's economy through the post-Global Financial Crisis era and pushed banks to develop fintech early.


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