The Monetary Authority of Singapore (MAS) announced that Gan Kim Yong, Minister for Trade and Industry, will be appointed chairman of the MAS board of directors from May 15, 2024, to May 31, 2026. Gan has served as deputy chairman of the MAS since July 8, 2023. He replaces Deputy Prime Minister and Minister for Finance Lawrence Wong, who has been chairman of the MAS since July 8, 2023. Wong previously served as deputy chairman from June 1, 2021, to July 7, 2023, and was a board member from June 10, 2011, to August 29, 2016. Wong will step down from his positions as chairman and board member on May 15, 2024.