Ravi Menon (economist) explained

Ravi Menon
Occupation:Economist
Education:National University of Singapore (BSS)
Harvard University (MPA)

Ravi Menon is a Singaporean economist who served as Managing Director of the Monetary Authority of Singapore from 2011 to 2024.

Early life and education

Menon was educated at Raffles Institution before graduating from the National University of Singapore in 1987 with a Bachelor of Social Sciences degree in economics.[1] [2]

In 1993, he went on to obtain a Master of Public Administration degree from the Harvard Kennedy School under a scholarship awarded by the Monetary Authority of Singapore (MAS).

Career

Upon graduation from National University of Singapore, he began his career at the Monetary Authority of Singapore (MAS). He became assistant managing director of MAS in 2002, before being seconded to the Ministry of Finance in 2003 as its deputy secretary.[3] He joined the civil service in 2005. In July 2007, he was appointed as the second permanent secretary of the Ministry of Trade and Industry (MTI). In October 2009, he became the permanent secretary of MTI.[4] In 2011, he returned to MAS and was appointed as the Managing Director, taking over from Heng Swee Keat who stepped down to enter politics. [5] Menon retired on 1 January 2024 from his managing director position at the MAS,[6] after having his appointment renewed for two years in May 2023.[7]

During his management of MAS, he introduced new guidelines on the emergent fintech technologies.[8] [9]

Menon has held roles at the Bank for International Settlements and the Financial Stability Forum. Menon is on the Financial Stability Board steering committee.

He is serving a two-year term as the chair for the Network for Greening the Financial System (NGFS), where he succeeded founding chair Frank Elderson, member of the executive board of the European Central Bank, in January 2022.[10]

Awards & accolades

Personal life

Menon is married with three children.

Notes and References

  1. News: Tan . Audrey . 29 March 2007 . Rejected for PSC scholarship but he's now MTI perm sec . H4 . The Straits Times.
  2. Web site: Ravi Menon . 23 June 2023 . Milken Institute . en.
  3. Web site: 2011-03-31 . Ravi Menon named MAS Managing Director . 2023-11-04 . Singapore Business Review . en.
  4. News: Kor . Kian Beng . 9 September 2009 . Top-level changes in Admin Service . B2 . The Straits Times.
  5. https://www.mas.gov.sg/news/media-releases/2011/new-md-for-mas-and-changes-to-the-mas-bods
  6. Web site: Singapore central bank names first new chief in over a decade . 2023-11-04 . Nikkei Asia . en-GB.
  7. Web site: 2023-05-12 . Singapore’s reappoints central bank chief Ravi Menon for 2 more years . 2023-11-04 . South China Morning Post . en.
  8. Web site: Sivakumar . Yoganeetha . 2022-11-03 . CBDCs, DeFi, ESG: MAS' managing director Ravi Menon shares S'pore's fintech plans and projects . 2023-11-04 . Vulcan Post . en-US.
  9. News: Huang . Claire . 2022-08-29 . Singapore is exploring restricting retail access to cryptocurrencies: MAS chief Ravi Menon . en . The Straits Times . 2023-11-04 . 0585-3923.
  10. Web site: 17 January 2022 . NGFS announces the appointment of new Chair and Vice Chair, and the expansion of its Steering Committee with two new members . 23 June 2023 . Banque de France . en-GB.
  11. News: Chia . Yan Min . 9 August 2017 . Top award for financial policy maker . The Straits Times.
  12. Web site: Tan . Hwee Hwee . 4 January 2018 . MAS chief Ravi Menon named best central bank governor in Asia-Pacific . 2023-11-04 . www.businesstimes.com.sg.

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