Former DPM Heng Swee Keat relinquishes post as member of MAS board of directors

Source: The Straits Times

Former deputy prime minister Heng Swee Keat has relinquished his position as a member of the Monetary Authority of Singapore (MAS) board of directors, the authority announced on Jan 5.

MAS board chairman Gan Kim Yong, in a statement, expressed deep appreciation for Mr Heng’s contributions to the board over the past 20 years, including his stint as managing director from 2005 to 2011.

“He was instrumental in steering MAS through the 2008 financial crisis, oversaw reforms to strengthen risk management and corporate governance in financial institutions, and enhanced MAS’ standing in global financial circles,” said Mr Gan.

Mr Heng also “contributed to Singapore’s development as a financial hub”, and encouraged the adoption of financial technology and innovation, and the development of talent, Mr Gan added.

“His sharp insights and wisdom were tremendous assets for the MAS board. We wish him the best in his future endeavours.”

Mr Heng was deputy prime minister from 2019 to 2025. He also served as minister for education from 2011 to 2015, and finance minister from 2015 to 2021.

He retired from politics in 2025.

The members of the MAS board of directors, with effect from Jan 1, are as follows: