Gillian Tan will take charge of payments supervision and financial crime at the Monetary Authority of Singapore on 1 November, as part of a leadership reshuffle at the central bank.
Tan becomes Assistant Managing Director (Policy, Payments and Financial Crime), succeeding Loo Siew Yee. The portfolio covers prudential policy, anti money laundering, enforcement and the supervision of payment services providers. Tan joined MAS in 2015 and is currently Assistant Managing Director (Development and International). She was previously Chief Sustainability Officer and Executive Director of the Financial Markets Development and Enforcement departments.
Loo moves up to Deputy Managing Director (Corporate Development), overseeing corporate functions including technology, finance, risk and currency. She replaces Jacqueline Loh, who becomes Principal Advisor in the Managing Director’s office after 13 years as Deputy Managing Director. Thong Leng Yeng, Executive Director of the Anti Money Laundering Department, succeeds Tan in the development and international portfolio.
Digital Trade Outlook’s View: Enforcement Experience Takes Over Payments Supervision
Tan has run MAS’s enforcement department, and the official taking her old portfolio comes from anti money laundering. Both backgrounds put people who have dealt with misconduct at the centre of how MAS supervises payments and financial crime. Payment services providers licensed in Singapore should plan for supervision that is at least as demanding as it is today.
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