Koh Yong Guan to be new MAS managing director

SINGAPORE - Mr Koh Yong Guan, Permanent Secretary for National Development Ministry, will take over from Mr Tharman Shanmugaratnam as the managing director of the Monetary Authority of Singapore from Monday.

A statement from the Prime Minister's Office also says Mr Shanmugaratnam resigned from the Civil Service effective Sunday.

Mr Shanmugaratnam will remain on the Board of the MAS.

And the Permanent Secretary for Trade and Industry Ministry (MTI) Khaw Boon Wan will retire on Tuesday, after 23 y