Dr Ray Choy is the Chief Economist at MARC Ratings Berhad, where he leads the research team covering macroeconomics and financial markets.

With experience in global financial markets since 2002, Dr Ray’s expertise spans economic research, foreign exchange, commodities, equity and fixed income investments, and credit risk ratings. Prior to joining MARC, he had led the research divisions of CIMB Group and RHB Banking Group across Southeast Asia, following senior roles in international fund management.

Dr Ray has been recognised and ranked for his work by Alpha Southeast Asia, The Asset, Bond Pricing Agency Malaysia (BPAM), The Edge, Lipper, and Focus Economics. He is a regular columnist for The Edge Malaysia Weekly and has published in peer-reviewed academic journals. He is also the author of Essays in Bond Market Economics. In addition to his professional work, Dr Ray contributes to academia as an adjunct faculty member at various universities. He is also listed on the Directors’ Registry of the Institute of Corporate Directors Malaysia (ICDM).

Dr Ray holds a Bachelor of Arts in Business and Finance from Heriot-Watt University, a Bachelor of Science in Politics and International Relations from the University of London (LSE), and a Master of Science in Finance (Economic Policy) from SOAS, University of London. He earned his PhD from the University of Nottingham, where his doctoral research focused on sovereign credit ratings.