SINGAPORE - The Monetary Authority of Singapore (MAS) has appointed a new deputy managing director for markets and development.

Mr Leong Sing Chiong, who began his career with the central bank in 1993, takes up the role on Feb 1, the MAS said on Thursday (Jan 14).

He will replace Ms Jacqueline Loh, who will retain her other post as deputy managing director for corporate development.

Mr Leong, 51, will oversee the markets and investment group, which conducts money market and foreign exchange operations, issues Singapore Government Securities and manages the country's official foreign reserves.

He will also manage the development and international group, which promotes Singapore as an international financial centre with the aim of creating good jobs and supporting vibrant financial markets.

Mr Leong will head the fintech and innovation group as well, and remain the assistant managing director for markets and investment until a successor is appointed.