SINGAPORE: According to a Bloomberg report, the Monetary Authority of Singapore’s (MAS) longest-serving chief, Ravi Menon, is expected to leave the central bank next month.
Mr Menon, who has been at the helm of the MAS since 2011, will see his current term end on May 31. According to insiders that spoke to Bloomberg, Mr Menon’s former deputy Chia Der Jiun is expected to succeed him.
Mr Chia, who is currently the Ministry of Manpower’s permanent secretary for development, was a 16-year veteran of the MAS before joining the manpower ministry in 2020.
There has been no official announcement regarding the leadership change, and a spokesperson for Singapore’s Public Service Division declined to comment and said that any changes to the appointment of Permanent Secretaries would be announced through official channels and media releases.
While many of Mr Menon’s predecessors, including Heng Swee Keat, Tharman Shanmugaratnam, and Richard Hu, went into politics and served as finance ministers after leaving the central bank, Mr Menon’s next steps remain unclear.
Although some observers predict that he may join the People’s Action Party (PAP) or perhaps even bid for the presidential election that is set to take place this year, Mr Menon has previously stated that he has “absolutely no intention to enter politics.”