Dr Ray Choy is Chief Economist of MARC Ratings Berhad. In this role, Dr Ray leads the research team covering the economy and financial markets.

Dr Ray’s experience in the global financial markets since 2002 encompasses economic research, funds management, foreign exchange research, commodities research, equities investments, and credit risk ratings. Prior to MARC, Dr Ray headed the research offices of CIMB Banking Group and RHB Banking Group across Southeast Asia, following a leadership role in global funds management.

Throughout his career, Dr Ray has received rankings and awards from various organisations and publications such as Alpha Southeast Asia, The Asset, Bond Pricing Agency Malaysia (BPAM), The Edge and Lipper. A columnist for The Edge Weekly, Dr Ray has published articles in top-tier, peer-reviewed journals and authored a book titled “Essays in Bond Market Economics”. In addition, he is an adjunct academic at Monash University and an industry advisor to Universiti Tunku Abdul Rahman. He is also on the Director 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), a Master of Science in Finance (Economic Policy) from the University of London (SOAS) and a PhD focusing on sovereign credit ratings from the University of Nottingham.