The Monetary Authority of Singapore (MAS) has appointed Leong Sing Chiong as deputy managing director for markets and development.

Leong’s appointment will take effect on Feb 1.

Leong will oversee the markets and investment group, which conducts money market and foreign exchange operations, and issues Singapore Government Securities.

He will also manage Singapore’s official foreign reserves as well as the development and international group, which promotes Singapore as an international financial centre that creates good jobs and supports vibrant financial markets.

In addition, Leong will oversee the fintech and innovation group.

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Leong will take over the position from Jacqueline Loh, who is currently the deputy managing director for markets and development, and corporate development.

Loh will remain as deputy managing director for corporate development.

Leong will also continue in his current role as assistant managing director for markets and investment until a successor is appointed.

Leong began his career at MAS with the reserves management department, and has held various appointments within the organisation, including serving for two years as Chief Representative of MAS’s London representative office from 2002 to 2004.