The head of the Monetary Authority of Singapore, the country's central bank, was chosen central banker of the year for Asia-Pacific.
Ravi Menon was crowned as Asia's outstanding central banker by «The Banker» (behind paywall). The finance publication said that under his leadership, the Monetary Authority of Singapore, or MAS, has pursued a cutting-edge regulatory approach to fintech while maintaining macroeconomic stability.
Singapore's was among the first regulators to set up a fintech group to evaluate technology’s risks and benefits. The regulator has also backed the Singapore Fintech Festival, and recently inked a long term deal with Prudential Singapore to be a main sponsor of the festival through 2022.
1MDB Bans
Punitively, Singapore has also been among the most severe in dealing with banks and bankers involved in the 1MDB debacle. MAS has banned eight bankers involved in the Malaysian graft scandal, including two last month.
The Menon-led MAS banned high-profile bankers including Tim Leissner, formerly Goldman Sachs' man in southeast Asia, as well as Swiss banker Jens Sturzenegger, who was the branch manager of Falcon Private Bank when it was shut down over 1MDB dealings last year.
More recently, Menon and MAS have sought to cool ultra-hot demand in Asia for cryptocurrencies, warning investors should weigh up the «significant» risks before pouring money in.
