The Monetary Authority of Singapore (MAS) has announced the composition of the new Financial Centre Advisory Panel (FCAP) comprising 26 leaders from the banking, insurance and asset management industries. FCAP will strengthen the dialogue and partnership between MAS and the financial industry, to drive the growth and development of Singapore’s financial centre.
The FCAP will provide advice to MAS in two areas:
(a) Asset class strategies: Industry leaders will provide advice on strategies to develop various segments of the financial sector, and propose initiatives to ensure the continued dynamism of Singapore’s financial centre.
(b) Cross-sectoral strategies: Industry leaders will deliberate on the SkillsFuture and FinTech initiatives, to build deep skills and harness technology, to sharpen our financial sector’s competitive edge.
The FCAP will be chaired by Mr Ravi Menon, Managing Director, MAS, the members have been appointed for a two-year term.
Mr Ravi Menon said, “MAS has a strong tradition of consultation with the financial industry. Given the rapid changes in the global financial landscape, we need to deepen our partnership with the industry to better anticipate trends, co-create policies, and chart strategies for the future. MAS looks forward to tapping on the insights and experience of FCAP members, to help grow Singapore as a leading international financial centre that provides significant opportunity for Singaporeans working in finance.”
The list is made up from leading professionals including Edmund Koh Singapore Country Head and Head of Wealth Management, SE Asia and APAC Hub, UBS AG, Piyush Gupta CEO, DBS Bank Ltd, Samuel Tsien Group CEO, Oversea-Chinese Banking Corporation Ltd, Wee Ee Cheong Deputy Chairman and CEO, United Overseas Bank Ltd and Hugh Young MD, Aberdeen Asset Management Asia Ltd.
