Ravi Menon (economist)

This article is about the Singaporean economist and government official. For the Indian actor, see Ravi Menon. For Canadian-American biophysicist, see Ravi S. Menon.

Ravi Menon
Occupation	Economist
Academic background
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). ^{[1] [2]}

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). ^[1] 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] [3]} 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. ^[2]

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

• Meritorious Service Medal, 2017 - Singapore ^[11]
• Best central bank governor in Asia-Pacific for 2018 - The Banker ^[12]

Personal life

Menon is married with three children. ^[1]

References

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