Singapore Central Bank MAS Appoints Leong Sing Chiong as New Deputy Managing Director to Oversee Markets & Development
15th January 2021 | Singapore
The central bank of Singapore, Monetary Authority of Singapore (MAS), has appointed Leong Sing Chiong as the new Deputy Managing Director for Markets & Development, taking over the role from Jacquline Loh. Sing Chiong will oversee the Markets and Investment Group (money markets, foreign exchange, government securities, foreign reserves), Development and International Group (promotes Singapore as an international financial centre) and the FinTech & Innovation Group.
” MAS Appoints Leong Sing Chiong as Deputy Managing Director to Oversee Markets & Development “
The Markets and Investment Group conducts money market and foreign exchange operations, issues Singapore Government Securities, and manages Singapore’s official foreign reserves. The Development and International Group promotes Singapore as an international financial centre creating good jobs and supporting vibrant financial markets.
Leong Sing Chiong at Monetary Authority of Singapore (MAS) Since 1993
Leong Sing Chiong started his career 28 years ago with the Reserves Management Department of MAS in 1993.
He held various appointments in MAS covering Markets and Investment, International, Financial Centre Development. Between 2002 to 2004, he was the Chief Representative of MAS’ London Representative office. Between 2013 to 2018, he was the Assistant Managing Director for Development and International. In 2018, he was appointed the Assistant Managing Director for Markets and Investment.
Leong Sing Chiong and Jacqueline Loh’s Roles at MAS
Leong Sing Chiong appointment will be effective on the 1st of February 2021, taking over Markets & Development role from Jacqueline Loh, Deputy Managing Director who currently manages both Markets & Development and Corporate Development.
Jacqueline Loh will remain in her role as Deputy Managing Director for Corporate Development. Sing Chiong will continue in his role as Assistant Managing Director for Markets & Investment until a successor is appointed.
Singapore, Leading Financial Centre in Asia
Singapore is one of the leading financial centre in Asia alongside Hong Kong. In 2019, Singapore reported a total of $2.96 trillion managed assets, representing 3.3% ($89 trillion) of global managed assets, with a total of 895 licensed asset managers and almost 300 Private Equity & Venture Capital managers based in Singapore.
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About Monetary Authority of Singapore
The Monetary Authority of Singapore (MAS) is Singapore’s central bank and integrated financial regulator. The Monetary Authority of Singapore (MAS) promotes sustained, non-inflationary economic growth through appropriate monetary policy formulation and close macroeconomic surveillance of emerging trends and potential vulnerabilities.
As an integrated financial supervisor, MAS fosters a sound financial services sector through its prudential oversight of all financial institutions in Singapore – banks, insurers, capital market intermediaries, financial advisors, and stock exchanges. It is also responsible for well-functioning financial markets, sound conduct, and investor education.
MAS also works with the financial industry to promote Singapore as a dynamic international financial centre. It facilitates the development of infrastructure, adoption of technology, and upgrading of skills in the financial industry.