The Financial Authority of Singapore’s (MAS) longest-serving chief Ravi Menon shall be stepping down as this yr, in accordance with a report by Bloomberg.

Ravi, who turns 59 this yr, has served for 12 years at MAS and his present time period would finish by 31 Might. Not a lot is understood about what Ravi’s subsequent plans are.

Though his predecessors together with Heng Swee Keat, Tharman Shanmugaratnam and Richard Hu had joined politics and served as finance ministers after leaving the highest chief submit, Ravi advised Bloomberg two years in the past that he has “completely no intention to enter politics”.

There are unverified rumours that Chia Der Jiun might probably succeed the long-serving central banker. Chia is presently a everlasting secretary on the Ministry of Manpower and held a number of administration roles in MAS the place he spent 16 years.