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HKMA Appointments

The Hong Kong Monetary Authority (HKMA) today (3 June 2004) announced that the Financial Secretary, following the advice of the Remuneration and Finance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointments of Mr Peter Pang as Deputy Chief Executive and of Mr Arthur Yuen as Executive Director (Banking Development). Mr Pang and Mr Yuen will take up their new positions on 1 July 2004.

Mr Pang, who is currently Chief Executive Officer of the Hong Kong Mortgage Corporation, will fill the Deputy Chief Executive position left vacant since January 2003 and will be responsible for monetary management, financial infrastructure and research: the duties of this position have, over the past 17 months, been carried out by Mr Norman Chan in addition to his own responsibilities as Deputy Chief Executive in charge of reserves management and international finance.

Mr Pang joined the HKMA as Executive Director (Banking Policy) in 1994 and was appointed as Executive Director (Monetary Policy and Markets) in 1996. Mr Pang joined the civil service as an Administrative Officer in 1979 and served as Assistant Director General of Trade and Assistant Commissioner of Banking before joining the HKMA.

Mr Yuen is currently Head of Banking Supervision (Division I). His responsibilities as Executive Director (Banking Development) will include banking reform and development as well as licensing and specialised supervision of issues such as e-banking and securities business of authorized institutions.

Mr Yuen joined the HKMA in 1996 as Head of Administration and has since then worked in positions involving research and liaison on Mainland China's economic and market development before moving to his current position in Banking Supervision in 2000. Before joining the HKMA Mr Yuen worked in the Hong Kong Securities and Futures Commission for two years after having served as an Administrative Officer in the Hong Kong Government for over eight years.

In connection with the appointments of Mr Pang and Mr Yuen to these positions, a number of further postings at the senior level will take place. Mr James Lau, who is currently Executive Director (Monetary Management and Infrastructure), will be seconded from the HKMA to take up the position of Chief Executive Officer of the Hong Kong Mortgage Corporation on 6 July. Mr Eddie Yue, who is currently Executive Director (Corporate Services), will become Executive Director (Monetary Management and Infrastructure) on 1 July. Mr Raymond Li, who is currently Executive Director (Banking Development), will become Executive Director (Corporate Services) on 1 July.

For further enquiries, please contact:

Kevin Ip, Manager (Press), at 2878 1687 or
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
3 June 2004

p_pang_s a_yuen_s
Mr Peter Pang, Deputy Chief Executive designate of the Hong Kong Monetary Authority Mr Arthur Yuen, Executive Director (Banking Development) designate of the Hong Kong Monetary Authority
Last revision date: 1 August 2011
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