The Monetary Authority of Singapore has announced that managing director Ravi Menon has been re-appointed as a member of the board of directors and as managing director for a further term of two years.
The re-appointment of Menon to the top position at the Singapore regulator, which runs from June 1 2017, will come as no surprise.
Menon has seen his global profile rise in recent times albeit on the back of a flurry of unsavoury events around the Malaysian wealth fund 1MDB.
It is hard to see how any other regulator could have done more to punish the miscreants while keeping the playing field level and stable for those who had not transgressed.
Indeed in nearby jurisdictions the lack of action on the tainted fund speaks volumes on why Singapore continues to attract banks, funds, external asset managers and those who support them.
Fintech Surge
Ravi Menon also made sure that the Monetary Authority of Singapore has been a keen and consistent supporter and early adopter of financial technology.
Menon recognised the value of the technology to the city-state and has supported the growth of fintech in Singapore which is now recognised as one of the leading global fintech hubs.
