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Bernard Wee

Group Head (Finance, Risk, Currency)

Bernard Wee is currently the Assistant Managing Director and Group Head of Markets & Investment at the Monetary Authority of Singapore (MAS).35 He also serves as a Board Member for the Gambling Regulatory Authority of Singapore (GRA), which was reconstituted from the Casino Regulatory Authority (CRA) on August 1, 2022.12

In his role at MAS, Wee is involved in high-level financial and regulatory matters. His LinkedIn profile indicates he has experience in the financial sector and regulatory bodies.3 As a board member of GRA, he contributes to the oversight and governance of gambling regulations in Singapore, helping to keep gambling honest, free from criminal influence, and minimize gambling-related harm.24

Wee appears to be engaged in discussions about financial markets and risk, as evidenced by a LinkedIn post where he commented on risk-takers and the UK financial situation.6

Highlights

Jun 28 · linkedin

Turns out that I was the first visitor to SGX FX’s new premises in Aldwych, serendipitously coinciding with their global management offsite. The team kindly provided a skilful demonstration of their new FX execution platform and hosted an engaging conversation on macro, markets, and technology.

SGX Group has done a remarkable job integrating BidFX and Maxxtrader under the SGX FX brand, streamlining the client experience and fuelling rapid global growth across markets from Asia to the Americas. Their commitment to electronifying FX trading is evident in their methodical approach to solving one workflow at at time, and this approach is helping them to grow one client at a time.

I was particularly impressed by the user-centric design of their trading screens, reflecting a deep understanding of client needs and close collaboration between the business development and technology teams.

I was given the opportunity to speak with the team on macroeconomic, market and technology trends. I shared about the challenges of navigating heightened macroeconomic uncertainty, the building blocks of an artificial intelligence adoption journey, and the opportunities for Singapore. The team's curiosity extended beyond technology, delving into the role of real assets in Investment portfolios, their performance under varying conditions, and advanced AI implementation strategies.

This experience reinforced the tight relationship between finance and technology, underscoring the mutual importance for technology to be informed by finance and for finance to be enabled by technology.

Jul 5 · linkedin

MAS has commenced a small allocation of SGD 8 billion (USD 6 billion) to align our equities portfolio with the climate transition pathway. This represents 2% of our total portfolio, and if successful we will aim to scale this up to the whole equities portfolio and extend its insights to other asset classes such as corporate bonds.

We are piloting two tilting climate indices: an off-the-shelf and one customised index, which take into account a company’s carbon emissions and how it is prepared for transition to a low-carbon future. Tilting approaches are better suited to supporting companies that are transitioning to lower carbon intensity, rather than excluding any carbon-intensive sector. Exclusion is a last resort, only after active stewardship through engagement and escalation with portfolio companies do not yield sufficient action, or for companies that are most impacted but least able to make the transition. In MAS’ case, we have excluded companies that derive more than 10% of their revenues from thermal coal mining and oil sands activities.

Through our pilot, we will seek to better understand: 

  • how the scoring methodologies of these climate indices fare as indicators of actual company actions; 
  • how company actions in turn translate into climate risk reduction and financial market pricing; and
  • how active managers calibrate their investment process when their performance is measured against a climate index instead of a conventional market capitalisation-weighted index.

We will scale up the allocation as we gain confidence in the effectiveness of the climate indices and greater clarity about the climate pathway that the world is on.

Our actions today will shape our climate of the future. In the same way, bolstering the climate resilience of MAS’ investment portfolio is a work in progress. What’s important is to prepare early, learn quickly and scale up in decisive steps once we have greater clarity. I hope to be able to share our insights from this effort when we’re ready :-)

https://lnkd.in/gDnsBjj8

Related Questions

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Bernard Wee
Bernard Wee, photo 1
Bernard Wee, photo 2
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Location

Singapore