SINGAPORE: Deputy Prime Minister Lawrence Wong will replace Senior Minister and Coordinating Minister for Social Policies Tharman Shanmugaratnam as chairman of the Monetary Authority of Singapore (MAS).
The appointment of Mr Wong, who is also the Finance Minister, will be for the period from Jul 8, 2023, to May 31, 2026, said MAS in a news release on Monday (Jul 3).
He has been deputy chairman of MAS since Jun 1, 2021, and had previously served as a member of the MAS Board from June 2011 to August 2016.
Mr Tharman, who has been chairman of MAS for 12 years, will step down on Jul 8.
Last month, Mr Tharman announced his decision to run for President in Singapore.
He informed Prime Minister Lee Hsien Loong on Jun 8 that he would retire from politics and all his positions in government. He also said that he would step down as chairman of MAS and from other responsibilities he has been undertaking in his ministerial capacity.
Replacing Mr Wong as deputy chairman will be Mr Gan Kim Yong, Minister for Trade and Industry.
He will be appointed to the MAS Board for the period from Jul 8, 2023, to May 31, 2026.
MAS Board of Directors (with effect from Jul 8, 2023)
Mr Lawrence Wong (Chairman) - Deputy Prime Minister and Minister for Finance
Mr Gan Kim Yong (Deputy Chairman) - Minister for Trade and Industry
Mr Heng Swee Keat - Deputy Prime Minister and Coordinating Minister for Economic Policies
Mr Alvin Tan - Minister of State, Ministry of Trade and Industry and Ministry of Culture, Community and Youth
Mr Peter Ong (Chairman of Risk Committee) - Chairman, Enterprise Singapore
Mr Chaly Mah (Chairman of Audit Committee) - Chairman, NetLink NBN Management
Mr Lim Hng Kiang Special Advisor - Ministry of Trade and Industry
Professor Tan Chorh Chuan - Chief Health Scientist, Ministry of Health and Executive Director, MOH Office for Healthcare Transformation
Mr Lucien Wong - Attorney-General, Attorney-General’s Chambers
Mrs Deborah Ong - Retired Partner, PricewaterhouseCoopers
Mr Ng Wai King - Managing Partner, WongPartnership
Mr Ravi Menon - Managing Director, MAS