The Monetary Authority of Singapore (MAS) announced that Lawrence Wong, Deputy Prime Minister and Minister for Finance, will serve as chairman of the MAS board of directors from 8 July 2023 to 31 May 2026.

Wong has been deputy chairman of MAS since 1 June 2021 and had previously served as a member of the MAS board from June 2011 to August 2016.

Wong replaces Tharman Shanmugaratnam, senior minister and coordinating minister for social policies, who has served as chairman of MAS for 12 years since May 2011, and will step down on 8 July 2023.

Gan Kim Yong, Minister for Trade and Industry, will serve the MAS board from 8 July 2023 to 31 May 2026. He will be appointed deputy chairman of the MAS board.