Ravi Menon, the Managing Director of the Monetary Authority of Singapore (MAS), is set to retire at the end of 2023 after a distinguished 29-year tenure at the regulator. According to a Tuesday statement, Menon will formally step down on 31 December 2023, also retiring from the Singapore Public Service on the same date. Chia Der Jiun, presently Singapore’s Permanent Secretary (Development) at the Ministry of Manpower and an 18-year MAS veteran, will take over the role from 1 January 2024 until 31 May 2026. Chia brings with him a wealth of public sector experience, having served in various capacities including the Ministry of Trade and Industry and the Ministry of Sustainability and the Environment. Menon was reappointed to MAS in May but had the option to retire earlier.