MAS forms tech group, makes senior management changes

Management changes at the Monetary Authority of Singapore (MAS) were announced yesterday alongside the setting up of a group to drive the central bank's digital transformation.

The new group will comprise the MAS' data analytics unit, its information technology department, and its technology and cyber-risk supervision section.

It will enable a more integrated approach to providing tech solutions and strengthen supervision, said the MAS.

Mr Vincent Loy, who was previously Accenture Singapore's managing director, has been appointed assistant managing director of technology.

Before joining Accenture, he led PwC's financial services technology risk practice in Britain.

Mr Lawrence Ang, now executive director of information technology, will be redesignated as chief information officer to better reflect the functions he has been performing as head of the IT department.

The MAS also announced senior management changes.

Two assistant managing directors will move up to deputy managing director positions:

•Mr Edward Robinson, assistant managing director of economic policy, will be deputy managing director of economic policy. He retains his designation as chief economist.

•Mr Chia Der Jiun, assistant managing director of corporate, human resources and IT services, will be deputy managing director of corporate development.

•Mr Bernard Wee, executive director of prudential policy, will be assistant managing director of finance, risk and currency.

•Mr Benny Chey, executive director of reserve management, will be assistant managing director of the development and international group from April 1.

•Mr Lim Tuang Lee, executive director of Banking Department I, will be appointed assistant managing director of organisation and people development.

Two senior management staff will be redesignated:

•Ms Jacqueline Loh, deputy managing director of monetary policy and investment/ development and international/ fintech and innovation, will be redesignated as deputy managing director of markets and development. She will continue to oversee the various groups in her new role.

•Ms Loo Siew Yee, assistant managing director of policy, risk and surveillance, will be redesignated as assistant managing director of policy, payments and financial crime.

All changes take effect from May 1, unless otherwise stated, said the MAS.

A version of this article appeared in the print edition of The Straits Times on March 07, 2019, with the headline 'MAS forms tech group, makes senior management changes'. Print Edition | Subscribe