Deputy Prime Minister Tharman Shanmugaratnam has been reappointed chairman of the Monetary Authority of Singapore (MAS) board, while Mr Lim Chee Onn, senior international adviser at Ascendas-Singbridge, is stepping down.
Mr Lim, a former Cabinet minister, will leave the board and his post as chairman of the risk committee on May 31, it was announced yesterday.
Mr Tharman said: "Mr Lim served as an active member of the MAS board for more than 14 years. As chairman of the risk committee, Mr Lim played an important role in strengthening MAS' risk management framework and crisis management preparedness."
Four other members of the MAS board have also been reappointed for terms running from June 1 this year to May 31, 2021.
They are Finance Minister Heng Swee Keat, Council for Estate Agencies president Quek See Tiat, Enterprise Singapore chairman Peter Ong, and Professor Tan Chorh Chuan, chief health scientist at the Health Ministry.
Mr Quek will be reappointed chairman of the audit committee, while Mr Ong succeeds Mr Lim as chairman of the risk committee, effective from June 1.
The MAS said Mr Chaly Mah, chairman of the Singapore Tourism Board and of NetLink NBN Management, will join the MAS board. NetLink NBN Management is the trustee-manager of listed NetLink NBN Trust.
Before his retirement in May 2016, Mr Mah served in Deloitte for over 38 years. He was formerly chief executive of Deloitte South-east Asia and chairman of Deloitte Singapore.
His term will be from May 1 this year to May 31, 2020.
The MAS also appointed Mindef chief defence scientist Quek Gim Pew to the risk committee as a non-board member from May 1 this year to May 31, 2021.
It said: "Mr Quek's specialist expertise and deep experience in technology and cyber risk management will help to enhance MAS' capabilities in these areas."