Key Information

inSight
Speeches
Speeches by Speaker
Norman T.L. Chan
Peter Pang
Eddie Yue
Arthur Yuen
Raymond Li
Edmond Lau
Esmond Lee
Meena Datwani
Vincent W.S. Lee
James Lau
Joseph Yam
Y K Choi
William Ryback
David Carse
Tony Latter
Andrew Sheng
Hans Genberg
Simon Topping
Michael Taylor
The Honourable Donald Tsang
Chen Yuan
Dai Xianglong
Don Brash
Jaime Caruana
Andrew Crockett
Mario Draghi
David Eldon
Stanley Fischer
Timothy F. Geithner
Stephen Grenville
Kenneth G. Lay
William McDonough
Ernest Patrikis
Glenn Stevens
Jean-Claude Trichet
Tarisa Watanagase
Zeti Akhtar Aziz
Press Releases
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
Press Releases by Category
Bogus Voice Message Phone Calls
Banking in Hong Kong
Fraudulent Websites, E-mails and Telephone System, and other fraud cases
Granting of Banking Licences
Exchange Fund
Table of Multiples of Notes and Payments for Allotted Amount under non-competitive tender
Table of Multiples of Notes and Payments of Application Amount under non-competitive tender
Tender of Exchange Fund Bills and Notes
Tender Results of Exchange Fund Bills and Notes
Tentative Issuance Schedule for Exchange Fund Bills and Notes
Appointments and Departures
HKMA Pay Review
HKMA Publications
Speeches
The Hong Kong Mortgage Corporation
Hong Kong Note Printing Limited
Hong Kong Institute for Monetary Research
Exchange Fund Investment Limited
Others
Hong Kong Financial Infrastructure
International Relations
Investment Products Related to Lehman Brothers
Monetary Policy
Notes and Coins
Renminbi business
Credit Card Lending Survey
Monetary Statistics
Residential Mortgage Survey
Year 2000
Others
Guidelines and Circulars
Guidelines
Circulars
2015
2014
2013
2012
2011
2010
2009
2008
2007
2006
2005
2004
2003
2002
2001
2000
1999
1998
1997
375.0271

Press Releases

Inaugural Conference for Independent Non-Executive Directors

The Hong Kong Monetary Authority (HKMA) hosted the inaugural Conference “Cultivating Culture in the Banking Industry in Hong Kong” for Independent Non-Executive Directors (“the Conference”) today (Thursday) in Hong Kong.

The Conference was the latest effort of the HKMA’s programme to equip and empower the Independent Non-Executive Directors (INEDs) in performing a more effective role on the boards of banks in Hong Kong. It was very well received by over a hundred INEDs from 34 locally-incorporated banks. It provided an opportunity for a constructive exchange of views among INEDs and with the HKMA on issues of mutual interest, not least the HKMA’s increasing focus on bank culture and corporate governance.

In his keynote speech, Mr Andrew Bailey, Chief Executive of Financial Conduct Authority in the United Kingdom, described the changes made in the UK to ensure that the culture of firms, and associated themes such as governance and remuneration were given much more attention. It was important to establish that incentives for good culture were well understood in firms and by regulators. This should ensure better outcomes. He emphasized that boards were at the heart of this effort.


In his closing remarks, Mr Norman Chan, Chief Executive of the HKMA, defined sound banking as banking practices that are prudent and profitable, responsible and fair to customers, and as a result, sustainable in the long run. To achieve sound banking, Mr Chan referred to the “Trilogy of Sound Banking”, consisting of robust regulation and supervision, good corporate culture, and appropriate incentive system.

Other speakers attending the Conference included:

Guest speaker

Mr Moses Cheng, Founder Chairman of the Hong Kong Institute of Directors, who gave his views on empowering INEDs to foster strong governance in the banking industry.

Panel speakers (in alphabetical order of their names)

Mr Danny Liu, INED of Citibank (Hong Kong) Limited; Ms Eva Cheng, INED of Bank of China (Hong Kong) Limited; Mr Paul Tsang, INED of China CITIC Bank International Limited; and Dr Rosanna Wong, INED of HSBC, discussed in a panel about identifying key accelerators and disruptors in building an ethic conscious culture in the banking industry.

Ms Ann Kung, Deputy Chief Executive of Bank of China (Hong Kong) Limited; Mr Charles Ng, Associate Director-General of Investment Promotion of InvestHK; Ms Shirley Yuen, Chief Executive Officer of the Hong Kong General Chamber of Commerce discussed the importance of financial inclusion in another panel.

 

Hong Kong Monetary Authority
16 March 2017

 

Mr Norman Chan, Chief Executive of the HKMA, gives opening remarks at the inaugural INED Conference, emphasising the critical role that INEDs play in fostering an ethical bank culture.

Mr Norman Chan, Chief Executive of the HKMA, gives opening remarks at the inaugural INED Conference, emphasising the critical role that INEDs play in fostering an ethical bank culture.

Mr Andrew Bailey, Chief Executive of Financial Conduct Authority, addresses the delegates at the inaugural INED Conference.

Mr Andrew Bailey, Chief Executive of Financial Conduct Authority, addresses the delegates at the inaugural INED Conference.

Mr Andrew Bailey, Chief Executive of Financial Conduct Authority (left), discusses with Mr Arthur Yuen, Deputy Chief Executive of the HKMA, ways to building good bank culture in Hong Kong.

Mr Andrew Bailey, Chief Executive of Financial Conduct Authority (left), discusses with Mr Arthur Yuen, Deputy Chief Executive of the HKMA, ways to building good bank culture in Hong Kong.

Members of a panel on ethic conscious bank culture include (from left to second right): Dr Rosanna Wong, INED of HSBC, Mr Paul Tsang, INED of China CITIC Bank International Limited, Ms Eva Cheng, INED of Bank of China (Hong Kong) Limited, and Mr Danny Liu, INED of Citibank (Hong Kong) Limited.

Members of a panel on ethic conscious bank culture include (from left to second right): Dr Rosanna Wong, INED of HSBC, Mr Paul Tsang, INED of China CITIC Bank International Limited, Ms Eva Cheng, INED of Bank of China (Hong Kong) Limited, and Mr Danny Liu, INED of Citibank (Hong Kong) Limited.

Members of a panel on financial inclusion include (from left to second right): Ms Sarah Kwok, Head of Banking Conduct of the HKMA, Ms Ann Kung, Deputy Chief Executive of Bank of China (Hong Kong) Limited, Mr Charles Ng, Associate Director-General of Investment Promotion of InvestHK, and Ms Shirley Yuen, Chief Executive Officer of the Hong Kong General Chamber of Commerce.

Members of a panel on financial inclusion include (from left to second right): Ms Sarah Kwok, Head of Banking Conduct of the HKMA, Ms Ann Kung, Deputy Chief Executive of Bank of China (Hong Kong) Limited, Mr Charles Ng, Associate Director-General of Investment Promotion of InvestHK, and Ms Shirley Yuen, Chief Executive Officer of the Hong Kong General Chamber of Commerce.

Mr Moses Cheng, Founder Chairman of the Institute of Directors, shares his views on the empowerment of INEDs at the inaugural INED Conference.

Mr Moses Cheng, Founder Chairman of the Hong Kong Institute of Directors, shares his views on the empowerment of INEDs at the inaugural INED Conference.

Notes to editors

Recent efforts of the HKMA on INED empowerment and promoting sound bank culture:

  • Inaugural conference exclusively held for INEDs on bank culture and the roles of INEDs (March 2017)
  • Guidance on bank culture reform (March 2017)
  • Guidance on empowerment of INEDs and their role in board governance (December 2016)
  • Launch of a structured development programme for INEDs, covering thematic seminars and experience sharing conferences (September 2016)
  • High-level seminar for INEDs of Hong Kong banks in Xi’an (June 2016)
  • High-level seminar for INEDs of Hong Kong banks in Beijing (October 2015)
Last revision date: 17 March 2017
ABOUT THE HKMA
The HKMA
Tender Invitations
Careers@HKMA
Legislative Council Issues
Links
The HKMA Information Centre
KEY FUNCTIONS
Monetary Stability
Banking Stability
International Financial Centre
Exchange Fund
PUBLICATIONS & RESEARCH
Annual Report
Half-Yearly Monetary & Financial Stability Report
Quarterly Bulletin
HKMA Background Briefs
Reference Materials
Research
MARKET DATA & STATISTICS
CMU Bond Price Bulletin
Economic & Financial Data for Hong Kong
Monthly Statistical Bulletin
Monetary Statistics
KEY INFORMATION
Press Releases
Speeches
Guidelines & Circulars
Forthcoming Events
inSight
OTHER INFORMATION
Account Opening
Consumer Corner
Consumer Education Programme
Complaints about Banks
Complaints about SVF Licensees
Internet Banking
Fraudulent Bank Websites, Phishing E-mails and Similar Scams
Be Careful of Bogus Phone Calls and SMS Messages
Authenticate the Callers and Bank Hotline Numbers
Register of AIs & LROs
Register of Securities Staff of AIs
Register of SVF Licensees
Investment Products Related to Lehman Brothers
Photo Gallery