The Monetary Authority of Singapore (MAS) — the republic's central bank and financial regulatory authority — has made changes to its senior management team which will take effect today (1 April 2014).
Lee Chuan Teck, who was MAS' assistant managing director for capital markets, will be seconded to the Ministry of Transport as deputy secretary for land and corporate.
He is succeeded by Lee Boon Ngiap, who was most recently the assistant managing director for banking and insurance.
Chua Kim Leong will take over Lee's position as the assistant managing director for banking and insurance. Chua was formerly the executive director for the Banking Department I.
MAS also announced that Foo-Yap Siew Hong has retired from her position as assistant managing director of special projects in the managing director's office after 39 years of service with the organisation. According to Ravi Menon, managing director of MAS, Foo-Yap has "helped to lay the foundation for MAS' early approach to banking supervision, formulated the tools and techniques for risk-based supervision, and groomed a generation of MAS bank supervisors."