MANAGING director of the Monetary Authority of Singapore (MAS)
Heng Swee Keat, 49, will retire from the Administrative Service on
April 2, and is likely to enter politics.
His post, which he has held for the last six years, will be
taken over by Permanent Secretary (Trade and Industry) Ravi Menon,
47, who is giving up his role on the same day.
Ms Ow Foong Pheng, Second Permanent Secretary (Trade and
Industry), will cover Mr Menon's duties until a replacement has
been found, said a statement from the Public Service Division,
Prime Minister's Office, on Wednesday.
Paying tribute to Mr Heng's 27 years of distinguished public
service and achievements, PSD said: 'Mr Heng contributed to the
development of Singapore into a well-respected financial centre,
underpinned by high standards of regulation and supervision.
'MAS also navigated the recent financial crisis well, skillfully
managing our monetary policy, maintaining the stability of the
Singapore dollar, and ensuring financial sector resilience and
public confidence.'
Mr Heng was awarded the Meritorious Service Medal in 2010 for
his achievements and outstanding contributions to the Public
Service.
Heng Swee Keat
- A Singapore Police Force Overseas Scholar, he joined the
Singapore Police Force after graduating with a Bachelor of Arts
(Honours) degree in Economics from Cambridge University in
1983.
- Obtained a Masters degree in Public Administration from
Harvard University in 1993.
- Joined the Administrative Service in 1997. He served in the
Ministry of Education before his appointment as Principal Private
Secretary to then-Senior Minister Kuan Yew from 1997 to 2000.
- Appointed Deputy Secretary in the Ministry of Trade and
Industry in 2000 and concurrently Chief Executive Officer, Trade
Development Board in January 2001.
- Appointed Permanent Secretary (Trade and Industry) in October
2001.
- When he was in the Ministry of Trade and Industry, Mr Heng
oversaw the negotiations of free trade agreements, and led the
negotiation with India as the Chief Negotiator. He coordinated the
work of seven economic agencies under MTI.
- Became Managing Director of MAS in June 2005.
Ravi Menon
- Holds a Bachelor of Social Science (Honours) degree in
Economics from the National University of Singapore and a Masters
degree in Public Administration from Harvard University.
- Started his career in the MAS in 1987 as a Central Banking
Officer and became its Assistant Managing Director in 2002.
- He spent a year at the Bank for International Settlements in
Basel, Switzerland, as a member of the Secretariat to the Financial
Stability Forum, which was established in 1999 by G7 Finance
Ministers and Central Bank Governors to promote global financial
stability.
- During his 16 years at the MAS, he was involved in monetary
policy, macroeconomic analysis, banking regulation and
liberalisation, and organisational development.
- Seconded to the Ministry of Finance in 2003 where he was
appointed Deputy Secretary (Policy).
- Joined the Administrative Service in 2005.
- In 2007, he was appointed Second Permanent Secretary (Trade
and Industry) and in 2009, he was appointed Permanent Secretary
(Trade and Industry).
What is tis???
Does this mean just because a person is a graduate from Harvard
and Cambridge means he is more capable than other people with
mediocre degrees?
Not fair. Why can't for once I hear people from government top
positions work their way up from a decent poor family rather than
those spoiled rich man sons who can afford to send them to Harvard
and Cambridge to study?
I hear that there are businessmen in India and Malaysia who
don't even have primary school education, can succeed and become
billionaires, all coming from the roots of poor family. Not like
Singapore which is entrenched in elitism and the need to have
prestigous education. I felt that people with normal degrees can
perform just as well as those who graduated from Ivy league
universities.
Don't forget the Unabomber had degrees from Ivy League Schools,
a genuis at 15 because he enrolled in UCLA that year. But he was
kicked out as a PHD professor because he lacked EQ and later
endulged in terrorism.
