Singapore’s former central bank chief Ravi Menon is reuniting with his former colleagues at a new financial and technology network with plans including fund-raising for startups.
Menon, who retired this year as head of the Monetary Authority of Singapore (MAS), will be chairman of the central bank’s Global Finance & Technology Network (GFTN), MAS said in a statement on Wednesday. Sopnendu Mohanty, currently MAS chief fintech officer, will relinquish the role and become chief executive of the new entity in February.
Mohanty, who spent almost 18 years at Citigroup Inc, was appointed by Menon as the regulator’s first fintech chief in 2015. Leong Sing Chiong, a MAS deputy managing director, and Neil Parekh, non-executive chairman for Asia at Tikehau Capital, have been named as deputy chairmen at GFTN.
GFTN will have four key businesses including organising global conferences on financial technology, providing advice as well as an investment fund for technology startups with social impacts. The firm will be seeking a license from MAS for its plan to set up a venture capital fund, Menon said, adding details on the fund are not yet available.
