Monetary Authority Of Singapore Pays Tribute To Its Former Managing Director And Deputy Chairman, Mr Lee Ek Tieng

The management and staff of the Monetary Authority of Singapore (MAS) are saddened to learn of the passing of Mr Lee Ek Tieng, who served as MAS’ Managing Director from November 1989 to December 1997 and Deputy Chairman from January 1998 to December 2000. MAS conveys its deepest condolences to the family of the late Mr Lee.

2. Mr Lee oversaw MAS’ management of the collapse of Barings Bank in 1995. Subsequently, he guided MAS to implement crucial measures to enhance the regulation of futures traders and strengthen risk management in financial institutions.

3. Mr Lee strengthened MAS’ cooperation with regional central banks and fostered closer relationships with them through dialogue, exchanges and collaboration.

4. Mr Lee has left for MAS a legacy of stewardship and service – by striving for high standards of excellence and dedication to public service that defined his remarkable career. He was instrumental in the transformation of MAS, fostering better coordination and integration of policies across departments, greater transparency as an organisation, and a more cohesive organisation.

5. MAS is grateful to Mr Lee for his sterling service and exemplary leadership.