We developed an organisation that provided strong careers for individuals and ensured they worked as teams. It’s been a very important effort, this organisational development. And the third thing I want to mention that is very important to the MAS is its growth of professional expertise. MAS is a little different from some other parts of the government because it requires greater depth of expertise. We need serious specialists – people who spend years developing expertise and in particular fields of our responsibility. That too is behind our credibility, because you need some expertise to have credibility. Through the years we have developed outstanding professionals – Ng Kok Song, Mrs FooYap Siew Hong, who served us for 39 years, Ms Teo Swee Lian and many others. Our present Managing Director, Mr Ravi Menon, is another example, someone who grew up as a professional within the organisation. We have to keep developing professional expertise in each of the areas that we engage in. When you add it all up, MAS is now one of the best regarded central banks and financial regulators in the world. And it is because of our people. Our people are very well regarded 2  BIS central bankers’ speeches  internationally and as an organisation we punch above our weight. That comes from years building up our organisation and building up our people. Finally I want to thank all the staff – our pioneers as well as current staff, in all the roles that you perform in, in various areas in MAS.

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