Singapore's financial regulator and de facto central bank is making several changes to its senior management team, which will take effect on September 1 unless otherwise stated.

Teo Swee Lian, deputy managing director for financial supervision at the Monetary Authority of Singapore, will leave her current role to become special adviser in the managing director’s office. There she will help MAS play a more active role in international regulatory work.

Teo will be succeeded by Ong Chong Tee, who will oversee the banking & insurance, capital markets, and policy, risk & surveillance groups in his new post. He will relinquish his roles as deputy MD for monetary policy & investment and deputy MD for financial development.

Two assistant MDs will move up to take on deputy MD positions.

Jacqueline Loh will succeed Ong as deputy MD for monetary policy & investment and deputy MD for development & international. As such, she will oversee the economic policy, markets & investment, and development & international groups.

Andrew Khoo will be appointed deputy MD for corporate development, overseeing the finance, risk & currency, and corporate, HR & IT services groups.

Foo-Yap Siew Hong will leave her role as assistant MD for currency, corporate services & human resource and be appointed assistant MD for special projects in the MD’s office, where she will oversee the development of a new retail payment system and other projects she initiated.

Ng Nam Sin will succeed Foo, thereby leaving his current role as assistant MD for development.

Three executive directors will move up to take on assistant MD positions. Chia Der Jiun is to take over as assistant MD for markets & investment; Leong Sing Chiong will become assistant MD for development & International; and Wong Nai Seng will be named assistant MD for policy, risk & surveillance.

MAS has made two other appointments in the MD’s office.

Sung Cheng Chih was appointed special adviser for risk management with effect from July 1. Sung was chief risk officer at sovereign wealth fund the Government of Singapore Investment Corporation from 1993 to 2011.

Edward Robinson, assistant MD for economic policy, will be named MAS’s chief economist, in addition to his current position. MAS did not say whom Robinson has replaced.