Chia Der Jiun was named managing director (designate) of the Monetary Authority of Singapore, replacing Ravi Menon who is retiring on Dec. 31 after 12 years in the position.
Mr. Chia will rejoin Singapore's central bank as managing director (designate) on Nov. 1, and take up the full role on Jan 1, 2024 for two years, the MAS said in a statement on Monday. He will also join the MAS board as a director.
He will join from the Ministry of Manpower where he is the permanent secretary for development. He joined the MOM from the MAS in 2020. In his previous time at the MAS, Mr. Chia spent 18 years in several leadership roles such as assistant managing director for markets and investment, and deputy managing director for corporate development.
Mr. Menon has been in the role since 2011 and was reappointed in May as managing director and member of the central bank of Singapore's board for two years, starting June 1. He led financial regulatory reform in Singapore after the global financial crisis and enhanced money laundering and market misconduct regulations. He also helped the MAS develop frameworks to address rising trends such as sustainable finance and financial technology.
Mr. Menon will retire from public service in Singapore.