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Singapore New Global Finance & Technology Network (GFTN) 8 Board Members are Ravi Menon, MAS Deputy Managing Director Leong Sing Chiong, Non-Executive Chairman Tikehau Capital Neil Parekh, ProsperCap CEO Iqbal Jumabhoy, Nanyang Technological University Lam Khin Yong, Allen & Gledhill Partner Andrew Lim, Sunlife Canada President Jessica Tan & GFTN Group CEO Designate Sopnendu Mohanty, International Advisory 6 Board Members are LeapFrog Investments & Rio Tinto Chairman Dominic Barton, Rwanda Minister of ICT & Innovation Paula Ingabire, Ant Group Chairman Eric Jing, Central Bank of Kenya ex-Governor Patrick Njoroge, Bank of Thailand ex-Governor Veerathai Santiprabhob & UBS ex-Chairman Axel Weber
8th November 2024 | Hong Kong
Singapore new Global Finance & Technology Network (GFTN) appoints new board & international advisory board members. The 8 board members are Chair Ravi Menon, Monetary Authority of Singapore (MAS) Deputy Managing Director Leong Sing Chiong (Deputy Chair), Non-Executive Chairman Tikehau Capital Neil Parekh (Deputy Chair), ProsperCap CEO Iqbal Jumabhoy, Nanyang Technological University Lam Khin Yong, Allen & Gledhill Partner Andrew Lim, Sunlife Canada President Jessica Tan & GFTN Group CEO Designate Sopnendu Mohanty. The International Advisory 6 board members are LeapFrog Investments & Rio Tinto Chairman Dominic Barton, Rwanda Minister of ICT & Innovation Paula Ingabire, Ant Group Chairman Eric Jing, Central Bank of Kenya ex-Governor Patrick Njoroge, Bank of Thailand ex-Governor Veerathai Santiprabhob & UBS ex-Chairman Axel Weber. In 2024 October, the Monetary Authority of Singapore (MAS) has announced the setup of the Global Finance & Technology Network (GFTN) to strengthen Singapore as a global fintech hub, with ex-Managing Director of MAS Ravi Menon appointed as Chairman, Sopnendu Mohanty appointed as CEO in 2025 February & to relinquish MAS Chief FinTech Officer role, and Kenneth Gay appointed as MAS Chief FinTech Officer (Designate) & to succeed Sopnendu Mohanty in 2025 February.
“ Singapore New Global Finance & Technology Network (GFTN) 8 Board Members are Ravi Menon, MAS Deputy Managing Director Leong Sing Chiong, Non-Executive Chairman Tikehau Capital Neil Parekh, ProsperCap CEO Iqbal Jumabhoy, Nanyang Technological University Lam Khin Yong, Allen & Gledhill Partner Andrew Lim, Sunlife Canada President Jessica Tan & GFTN Group CEO Designate Sopnendu Mohanty, International Advisory 6 Board Members are LeapFrog Investments & Rio Tinto Chairman Dominic Barton, Rwanda Minister of ICT & Innovation Paula Ingabire, Ant Group Chairman Eric Jing, Central Bank of Kenya ex-Governor Patrick Njoroge, Bank of Thailand ex-Governor Veerathai Santiprabhob & UBS ex-Chairman Axel Weber “
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Ravi Menon, Ambassador (Climate Action), Singapore, and former Managing Director, Monetary Authority of Singapore (MAS), chairs the GFTN Board of Directors, and is joined by two Deputy Chairs:
- Leong Sing Chiong, Deputy Managing Director, Monetary Authority of Singapore
- Neil Parekh, Nominated Member of Parliament, Singapore; Non-Executive Chairman, Tikehau Capital
- Members of the Board of Directors:
- Iqbal Jumabhoy, Chief Executive Officer, ProsperCap Corporation Limited
- Lam Khin Yong, Vice President (Industry), Nanyang Technological University Singapore; Senior Advisor to Hungarian Minister of Culture and Innovation
- Andrew Lim, Partner, Allen & Gledhill
- Jessica Tan, Group Executive Vice President and President, Sunlife Canada
- Sopnendu Mohanty, Group Chief Executive Officer – Designate, GFTN; Chief FinTech Officer, Monetary Authority of Singapore
Members of the International Advisory Board include:
- Dominic Barton, Chairman, LeapFrog Investments; Chairman, Rio Tinto; former Global Managing Partner, McKinsey & Company
- Paula Ingabire, Minister of ICT and Innovation, Republic of Rwanda
- Eric Jing, Chairman and Chief Executive Officer, Ant Group; Chairman, Ant International
- Patrick Njoroge, former Governor, Central Bank of Kenya
- Veerathai Santiprabhob, former Governor, Bank of Thailand
- Axel Weber, Advisor, Raisin; former Chairman of the Board, UBS Group AG; former President, Deutsche Bundesbank
Singapore MAS Setup Global Finance & Technology Network (GFTN) to Strengthen Singapore as Global Fintech Hub, ex-Managing Director of MAS Ravi Menon Appointed as Chairman, Sopnendu Mohanty Appointed as CEO in 2025 February & to Relinquish MAS Chief FinTech Officer Role, Kenneth Gay Appointed as MAS Chief FinTech Officer (Designate) & to Succeed Sopnendu Mohanty in 2025 February
31st October 2024 – The Monetary Authority of Singapore (MAS) has announced the setup of the Global Finance & Technology Network (GFTN) to strengthen Singapore as a global fintech hub, with ex-Managing Director of MAS Ravi Menon appointed as Chairman, Sopnendu Mohanty appointed as CEO in 2025 February & to relinquish MAS Chief FinTech Officer role, and Kenneth Gay appointed as MAS Chief FinTech Officer (Designate) & to succeed Sopnendu Mohanty in 2025 February. Singapore MAS (30/10/24): “The Monetary Authority of Singapore (MAS) today announced the establishment of the Global Finance &Technology Network (GFTN) to further strengthen Singapore as a global FinTech hub and enhance global connectivity for impactful innovation in financial services. The first phase of FinTech growth in Singapore was driven by experimentation, as well as promotion of key initiatives to harness technology and innovation in the financial sector. These included developing a regulatory sandbox framework, establishing cross-border payments linkages, piloting digital assets and tokenisation, and promoting Artificial Intelligence (AI) adoption as part of MAS’ goal to develop Singapore as a Smart Financial Centre. A key highlight has been the growth of the Singapore FinTech Festival (SFF), which has become the largest platform for the global FinTech community to collaborate on catalysing technology and innovation in finance. Global Finance & Technology Network (GFTN) – To further build on industry collaboration and enhance connectivity for impactful innovation in financial services, GFTN will be established to catalyse the growth of the Singapore FinTech ecosystem and drive greater synergies and networks with the global FinTech community. GFTN will work with MAS to advance industry and policy dialogues in payments, asset tokenisation, and AI/quantum. GFTN will also support MAS’ efforts to develop and grow a vibrant FinTech ecosystem, and scale SFF as the premier global FinTech event. Ravi Menon, Singapore’s Ambassador for Climate Action and Senior Advisor at the National Climate Change Secretariat, and former Managing Director of MAS (2011-2023), will be appointed as Chairman of the GFTN Board of Directors. Details of GFTN’s functions, strategies, and governance will be announced separately by GFTN. Mr Sopnendu Mohanty will be appointed Group Chief Executive Officer of GFTN from 1 February 2025 and relinquish his role as MAS’ Chief FinTech Officer on the same day. Mr Mohanty will continue to support MAS’ FinTech efforts as Advisor to MAS’ FinTech & Innovation Group. Mr Kenneth Gay will be appointed MAS’ Chief FinTech Officer (Designate) from 6 November 2024 until 31 January 2025 and assume the role of Chief FinTech Officer on 1 February 2025. Mr Gay has been with MAS for over 20 years serving in regulatory and technology roles, and is currently Executive Director heading the Enterprise Knowledge Department, driving data and knowledge management as well as AI capability development, a role which he will concurrently hold until 31 January 2025.” Note – GFTN will replace the present Elevandi. Elevandi is a not-for-profit entity set up by MAS to connect people and businesses, ideas and insights in the FinTech sector in Singapore and globally.
Chia Der Jiun, Managing Director of MAS: “The establishment of GFTN, with Ravi as the Chairman of GFTN’s Board, marks a new phase in scaling up and enhancing the impact of our FinTech strategies. MAS is grateful to Sopnendu for leading the FinTech & Innovation Group since its formation in 2015. Ravi and Sopnendu have been instrumental in the growth of Singapore’s FinTech ecosystem. I wish Sopnendu every success in his new role and look forward to Kenneth driving MAS’ FinTech initiatives in payments innovation, asset tokenisation, AI and quantum applications.”
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