Singapore MAS Appoints Minister for Finance Lawrence Wong as Chairman of Monetary Authority of Singapore for 3-Year Term Succeeding Tharman Shanmugaratnam, Lawrence Wong is Next Prime Minister of Singapore

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Singapore MAS Appoints Minister for Finance Lawrence Wong as Chairman of Monetary Authority of Singapore for 3-Year Term Succeeding Tharman Shanmugaratnam, Lawrence Wong is Next Prime Minister of Singapore

4th July 2023 | Hong Kong

Singapore central bank Monetary Authority of Singapore (MAS) has appointed Singapore Deputy Prime Minister & Minister for Finance Lawrence Wong as Chairman of Monetary Authority of Singapore for a 3-year term (8/7/2023 to 31/5/2026), succeeding Tharman Shanmugaratnam (Senior Minister & Coordinating Minister for Social Policies).  Tharman Shanmugaratnam has been Chairman of MAS for 12 years (May 2011), and will step down on 8th July 2023.  In June 2023, Tharman Shanmugaratnam (Age 66) had announced to run for Singapore Presidential election and to retire from politics (People’s Action Party), stepping down from all positions in government including Chairman of Monetary Authority of Singapore (MAS) and Deputy Chairman of GIC.   In 2022 June, Singapore ruling party People’s Action Party’s (PAP) selected Finance Minister Lawrence Wong as the leader of the 4th generation leadership team, and the likely next Prime Minister of Singapore.  Lawrence Wong was a senior civil servant in the Government of Singapore and had entered into politics in 2011.  Singapore is a leading financial centre in the world, ranked 6th worldwide (2022 Financial Centre Ranking), 3rd in Asia (Shanghai, Hong Kong, Singapore), and with more than $4.7 trillion Assets under Management.  Lawrence Wong has been Deputy Chairman of MAS since 1st June 2021 and had previously served as a member of the MAS Board from June 2011 to August 2016.  Gan Kim Yong (Minister for Trade and Industry)will be appointed to the MAS Board for the period from 8th July 2023 to 31st May 2026, and appointed Deputy Chairman of the MAS Board. See below for MAS 12 Board Directors.

” Singapore MAS Appoints Minister for Finance Lawrence Wong as Chairman of Monetary Authority of Singapore for 3-Year Term Succeeding Tharman Shanmugaratnam, Lawrence Wong is Next Prime Minister of Singapore “

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Board of Directors of the Monetary Authority of Singapore (with effect from 8 July 2023)

1. Lawrence Wong (Chairman), Deputy Prime Minister and Minister for Finance
2. Gan Kim Yong (Deputy Chairman) Minister for Trade and Industry
3. Heng Swee Keat, Deputy Prime Minister and Coordinating Minister for Economic Policies
4. Alvin Tan, Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth
5. Peter Ong (Chairman of Risk Committee) Chairman, Enterprise Singapore
6. Chaly Mah (Chairman of Audit Committee) Chairman, NetLink NBN Management Pte Ltd
7. Lim Hng Kiang, Special Advisor, Ministry of Trade and Industry
8. Professor Tan Chorh Chuan, Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation
9. Lucien Wong, Attorney-General, Attorney-General’s Chambers
10. Deborah Ong, Retired Partner, PricewaterhouseCoopers LLP
11. Ng Wai King, Managing Partner, WongPartnership
12. Ravi Menon Managing Director, MAS

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