Former Deputy Chairman of MAS Leek Ek Tieng passes away

Lee oversaw MAS’ management of the Barings Bank collapse in 1995.

Lee Ek Tieng, the Monetary Authority of Singapore’s (MAS) former Deputy Chairman, has passed away.

Lee oversaw MAS’ management of the Barings Bank collapse in 1995. Subsequently, he guided MAS to implement measures to enhance the regulation of future traders and strengthen risk management in financial institutions.

“Mr. Lee played a pivotal role in building a clean and green Singapore. In our early years of independence, he oversaw critical infrastructure projects, including an islandwide sewage system and the transformation of our waterways,” Prime Minister Lawrence Wong said in a Facebook post.

The PM added that Lee also led the development of NEWater, laying the foundations of the city-state’s water resilience.