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The EFAC Governance
Sub-Committee

The Governance Sub-Committee monitors the performance of the HKMA and makes recommendations on remuneration and human resources policies, and on budgetary, administrative and governance issues.

Membership

Terms of Reference

Chairman

Professor Lawrence J. LAU, GBS, JP
Ralph and Claire Landau Professor of Economics
The Chinese University of Hong Kong

Members

Mr Carlson TONG, SBS, JP
Chairman
Securities and Futures Commission

Dr David WONG Yau-kar, BBS, JP
Managing Director
United Overseas Investments Ltd

Dr LO Ka-shui, GBS, JP
Chairman and Managing Director
Great Eagle Holdings Limited

Professor Stephen CHEUNG Yan-leung, BBS, JP
President 
The Education University of Hong Kong

Mrs Angelina LEE WONG Pui-ling, SBS, JP
Partner
Woo, Kwan, Lee & Lo

Mr Philip TSAI Wing-chung, JP
Chairman
Deloitte China

Mr T. Brian STEVENSON, SBS, JP

Mr Nicky LO Kar-chun, SBS, JP

Mr Anthony CHOW Wing-kin, SBS, JP
Senior Partner
Guantao & Chow Solicitors and Notaries

Dr Moses CHENG Mo-chi, GBM, GBS, JP
Consultant
P. C. Woo & Co.

Secretary

Ms Carrie CHAN
Head (Corporate Development)
Hong Kong Monetary Authority

Terms of Reference

(1) To monitor the performance of the HKMA in carrying out its functions and responsibilities and in its use of resources, and to formulate recommendations to the Financial Secretary through the Exchange Fund Advisory Committee (EFAC) on
  (a) the remuneration and human resources policies of the HKMA;
  (b) remuneration for HKMA staff, taking account of the Sub-Committee's assessment of the quality and effectiveness of the HKMA's work; and
  (c) the use of resources of the HKMA, including its annual administrative budget.
(2) To consider recommendations and provide advice to the Financial Secretary on the appointment and dismissal of staff at the level of Executive Director and above.
(3) To keep under review the governance arrangements for the HKMA and to make recommendations to the Financial Secretary through EFAC as appropriate.
Last revision date: 9 February 2017
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