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Norman Chan named as new HKMA chief

(Xinhua)
Updated: 2009-07-17 19:20

HONG KONG: The Hong Kong Special Administrative Region (SAR) government announced here on Friday the appointment of Norman Chan as the next chief executive of the Hong Kong Monetary Authority.

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His new term will be five years from October 1, 2009 with an annual fixed pay of 6 million HK dollars (US$77.50).

The 55-year-old Chan, currently director of the Hong Kong chief executive's office, will take the place of Joseph Yam, who will step down from the top HKMA post October 1. His present job will be filled by Undersecretary for Constitutional affairs Raymond Tam.

"He is the ideal person for the position," commented John Tsang, Financial Secretary of the Hong Kong SAR government.