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HKMA Appointments

The Hong Kong Monetary Authority (HKMA) today (Tuesday) announced that the Financial Secretary, following the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointment of Mr Y. K. Choi as Deputy Chief Executive, and of Mr Edmond Lau as Executive Director (Strategy and Risk) and Mr Christopher Munn as Executive Director (Corporate Services). These appointments will take effect on 1 June 2005. At the same time, some reorganisation of responsibilities at the Deputy Chief Executive level will take place.

Mr Choi, who is currently Executive Director (Banking Supervision) will be responsible for monetary management, financial infrastructure, reserves management, and strategy and risk. Mr Choi joined the HKMA as Head (Banking Policy) in 1993. He became Head (Administration) in 1994 before taking up his present position in 1995. Before joining the HKMA he served in the Office of the Commissioner of Banking from 1974 and became Assistant Commissioner of Banking in 1990 after a one-year secondment to the Bank of England. In 1991 he was seconded to the Office of the Exchange Fund with responsibility for monetary issues, including the maintenance of currency stability, the supervision of dealing room activities, and the introduction and development of the Exchange Fund Bills and Notes Programme.

The responsibilities for external affairs and corporate services at the Deputy Chief Executive level will be taken up by Mr Peter Pang, who will also retain responsibility for research. Mr William Ryback will continue to be responsible at the Deputy Chief Executive level for banking policy, development and supervision.

The position of Executive Director (Strategy and Risk) will be formed by reactivating a frozen Executive Director post. This position will enable the HKMA to focus on broader strategic planning and risk management in an increasingly complex and unpredictable financial environment. The new position will in particular help the HKMA examine more deeply, and develop strategic responses to, the impact on its policies and operations of such processes as the globalisation and liberalisation of financial markets and technological change.

Mr Lau joined the HKMA in 1997 as Head (Banking Development) and has been involved in banking reform and the establishment of the Deposit Protection Scheme. He took up his present position as Administrative Assistant to the Chief Executive of the HKMA in 2004 after a one-year secondment to the Financial Services and Treasury Bureau. Before joining the HKMA Mr Lau was an Administrative Officer in the Hong Kong Government.

Mr Munn joined the HKMA in 1998 as Senior Manager (Corporate Development) and was promoted to his present position as Head (Corporate Development) in 1999. He has also previously served as an Administrative Officer in the Hong Kong Government. Mr Munn will take over the position of Executive Director (Corporate Services) from Mr Raymond Li, who will become Executive Director (Banking Development). The present Executive Director (Banking Development), Mr Arthur Yuen, will take over as Executive Director (Banking Supervision) from Mr Choi.

 

For further enquiries, please contact:
Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority
26 April 2005

Last revision date: 1 August 2011
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