Date: November 7, 2023
On 6th November 2023, at the launch of SIAS Corporate Governance Week, Mr David Gerald, President & CEO of SIAS, together with the Management Committee Members, presented Mr Ravi Menon, Managing Director of Monetary Authority of Singapore the Outstanding Contributions to the Investing Community Award. This award was presented to Mr Menon ahead of his retirement on 1st January 2024. This award is to recognise Mr Menon’s significant contributions to the investing community.
Outstanding Contributions to the Investing Community Award Citation
Ravi Menon, Managing Director, Monetary Authority of Singapore, 2011 to 2023.
Mr Ravi Menon is widely respected by his peers in the international central banking and financial regulation community. He is known for his sound judgment, his deep understanding of the financial system, and his commitment to financial stability, which is foundational to instilling investor confidence in Singapore. He oversaw the implementation of a number of measures to strengthen the Singapore financial system, including enhancing macroprudential supervision and strengthening the regulatory framework for financial institutions. During the COVID-19 pandemic, Mr Menon led the MAS in implementing a number of measures to support the Singapore economy and financial system.
His foresight in the ESG arena has been demonstrated by MAS’ efforts to promote green finance. Mr Menon’s thought leadership in green finance has been recognised internationally with his appointment as the Chair of the Network for Greening the Financial System, a network of 105 central bank members, since January 2022. His efforts in green finance have opened up opportunities not only for financial institutions but also retail investors who benefit from better climate-related disclosures and opportunities to invest in a wider range of financial products.
Mr Menon has been a vocal advocate for retail investors. He has called on the financial industry to do more to help retail investors make informed investment decisions. His significant contributions to retail investors during his tenure as MD of the MAS include:
- Promoting financial literacy and investor education: MAS, under Mr Menon’s leadership, has made significant efforts to promote financial literacy and investor education among retail investors. This includes the establishment of the MoneySense Council, which he co-chairs, to organise whole-of-government financial education efforts. The Council has since been expanded to incorporate private sector partners this year, elevating it to what Mr Menon had called a whole-of-nation effort. He also encouraged the harnessing of digital technology, leading to initiatives such as SGFinDex and other financial planning tools on MyMoneySense platforms.
- Promoting innovation in the financial sector: MAS has also been a strong supporter of innovation in the financial sector. This has included supporting the development of new financial products and services, such as robo-advisors and digital asset exchanges. Innovation in the financial sector can benefit retail investors by providing them with more choices and better access to financial services.
- Strengthening investor protection through good corporate governance: Mr Menon is a steadfast supporter of good corporate governance in our capital markets. The last major review of the Code of Corporate Governance was completed in 2018 during his tenure and he supported further enhancements to the corporate governance regime over the years. Recognising the benefits of a collaborative ecosystem approach, he accepted the recommendation by CG Council to establish the Corporate Governance Advisory Committee as a standing industry body to advise the regulators and market on corporate governance issues. Further, Mr Menon has always supported the work of SIAS and other industry partners in our efforts to advocate for higher corporate governance standards.
The Securities Investors Association Singapore honours Mr Ravi Menon’s achievements with this Award.