Thursday, April 18, 2024

12 Norman Chan
Chief Executive - The Hong Kong Monetary Authority

Under Chan Hong Kong promises to blossom

Norman Chan, the chief executive of the Hong Kong Monetary Authority has big shoes to fill as Joseph Yam stood down at the end of September 2009. The Hong Kong Monetary Authority (HKMA) appointed Mr Norman Chan Tak-lam as Chief Executive of the HKMA with effect from 1 October 2009. Already he has shown a visionary perspective, and Hong Kong's initial steps to develop an interbank market in yuan has already opened up exciting developments for Hong Kong as an international financial centre for yuan products, with banks such as HSBC and Standard Chartered. Yam, one of the leading intellectuals of the global regulatory community oversaw the transition of Hong Kong from colony to special administrative region during his ten years as CEO of the HKMA. Yam's writings on the transition of Hong Kong through the ten years have been focused since the 2006 on the unfolding credit crisis, published here:

Mr Joseph Yam, the Chief Executive of the HKMA said, "Norman Chan is an old friend of the HKMA and colleagues look forward to welcoming him back. Norman has extensive experience of the HKMA's operations and of central banking matters. He is well qualified for the challenges of his new position."