The Monetary Authority of Singapore has announced the appointment of a new chairman, succeeding Tharman Shanmugaratnam.
The Monetary Authority of Singapore (MAS) appoints Lawrence Wong as chairman of the board of directors for the period from 8 July 2023 to 31 May 2026, according to a statement.
Wong is currently Singapore’s deputy prime minister and minister for finance. He has also been the deputy chairman of MAS since June 2021 and previously served as the central bank's board member from June 2011 to August 2016.
Minister of trade and industry Gan Kim Yong will be appointed to the MAS board for the period from 8 July 2023 to 31 May 2026 and will also be named as its deputy chairman.
Tharman Shanmugaratnam
Wong succeeds Tharman Shanmugaratnam who will be running for president in Singapore's upcoming elections.
In addition to his role as MAS chair, Tharman will also retire from his role in the People’s Action Party as well as from his posts as senior minister and coordinating minister for social policies on July 7.
Separately, Wong has also been named chairman of GIC's investment strategies committee (ISC), according to a statement, effective July 7. Wong has been an ISC member since 1 August 2017 and a GIC board director since 1 November 2018.
