Monetary Authority of Singapore Makes Key Changes to Senior Management Team, Appoints Ho Hern Shin as new Deputy Managing Director
5th March 2021 | Singapore
The central bank of Singapore, Monetary Authority of Singapore (MAS), has made numerous key changes to the Senior Management team including appointing current Assistant Managing Director for Banking & Insurance Ho Hern Shin as the new Deputy Managing Director for Financial Supervision. Ho Hern Shin will take over the role from Ong Chong Tee, who will be leaving Monetary Authority of Singapore (MAS) after 16 years of service.
“MAS Makes Key Changes to Senior Management Team, Appoints Ho Hern Shin as new Deputy Managing Director”
4 New Appointments at MAS
There are 4 new senior management appointments at Monetary Authority of Singapore (MAS): Ho Hern Shin, Marcus Lim, Cindy Mok and Wong Zeng Yi.
- Ho Hern Shin, Deputy Managing Director (Financial Supervision)
- Marcus Lim, Assistant Managing Director (Banking & Insurance)
- Cindy Mok, Assistant Managing Director (Finance, Risk & Currency)
- Wong Zeng Yi, Assistant Managing Director (Organisation & People Development)
Ho Hern Shin, Deputy Managing Director (Financial Supervision)
Ho Hern Shin, the new Deputy Managing Director for Financial Supervision, has served in different functions at Monetary Authority of Singapore (MAS), including overseeing the licensing and supervision of banks, insurance companies and payments systems in Singapore.
She has also overseen specialised teams in MAS that formulated policies and supervised financial institutions in the areas of anti-money laundering, technology risk & cybersecurity, environmental risks and held positions in HR and organisational development in MAS.
Lim Tuang Lee and Bernard Wee Take on New Roles
Lim Tuang Lee and Bernard Wee take on new roles at Monetary Authority of Singapore (MAS):
- Lim Tuang Lee, Assistant Managing Director (Capital Markets)
- Bernard Wee, Assistant Managing Director (Markets & Investment)
All new appointments and changes will take effect on 1st of April 2021.
Leaving MAS
Ong Chong Tee, Deputy Managing Director (Financial Supervision) and Lee Boon Ngiap, Assistant Managing Director (Capital Markets), will be leaving Monetary Authority of Singapore (MAS).
Monetary Authority of Singapore (MAS) Senior Management Team:
- Ravi Menon, Managing Director
- Ho Hern Shin, Deputy Managing Director (Financial Supervision)
- Jacqueline Loh, Deputy Managing Director (Corporate Development)
- Edward Robinson, Deputy Managing Director (Economic Policy) / Chief Economist
- Leong Sing Chiong, Deputy Managing Director (Markets and Development)
- Marcus Lim, Assistant Managing Director (Banking & Insurance)
- Lim Tuang Lee, Assistant Managing Director (Capital Markets)
- Bernard Wee, Assistant Managing Director (Markets & Investment)
- Wong Zeng Yi, Assistant Managing Director (Organisation and People Development)
- Loo Siew Yee, Assistant Managing Director (Policy, Payments & Financial Crime)
- Vincent Loy, Assistant Managing Director (Technology)
- Celine Sia, Assistant Managing Director (Economics and Knowledge Management)
- Gillian Tan, Assistant Managing Director (Development and International)
- Cindy Mok, Assistant Managing Director (Finance, Risk and Currency)
Monetary Authority of Singapore (MAS) Managing Director, Ravi Menon:
On Ong Chong Tee 16 Years Contribution at MAS:
“Chong Tee served as Deputy Managing Director for 16 years, across all four of MAS’ key functions: first, in the areas of monetary policy, investment management, and financial development; and then, in financial supervision. He led the MAS teams in navigating the global financial crisis of 2009, ensuring monetary stability and safeguarding our investment portfolio. He subsequently led the implementation of the post-crisis regulatory reforms in MAS, including new rules for bank capital and liquidity.
Chong Tee has been an active member in many international regulatory forums, such as the Basel Committee for Banking Supervision and several Financial Stability Board Standing Committees. Chong Tee is a respected leader and a trusted colleague”
On Lee Boon Ngiap Contribution at MAS:
“Boon Ngiap has been one of MAS’ most versatile leaders, making strong contributions in banking and insurance supervision, capital markets regulation, financial centre development, and domestic monetary management.
As Assistant Managing Director (Capital Markets), Boon Ngiap led the regulation of capital markets and the supervision of capital markets intermediaries and infrastructure, and championed consumer financial education initiatives. Boon Ngiap represented MAS at the board meetings of the International Organisation of Securities Commissions.”
“MAS is deeply grateful to Chong Tee and Boon Ngiap for their leadership and significant contributions over 35 years each of dedicated service. We wish them the best for their future.”
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- Singapore Central Bank MAS Releases Asset Management Survey 2019
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- Singapore Central Bank MAS and IBF Launches Skills Map for Family Office Advisors
About Monetary Authority of Singapore
(MAS)
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.
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