Eddie Yue Appointed as New HKMA CEO; Executive Director Resigns Citing Personal Reasons

Eddie Yue, who currently serves as the Deputy CEO of HKMA will succeed Norman Chan as the new CEO in October. The 54 year old incoming CEO Eddie Yue, started his career in civil service in 1986 and joined HKMA in 1986.

A report by Bloomberg suggest that the new CEO is set to be among the best paid central banked in the world, his salary will be set at HK$7 million ($900,000), with as much as HK$2.3 million a year in performance-linked variable pay.

Welcoming the succession, Norman Chan the current CEO said

Norman Chan

“Eddie is the most experienced Deputy Chief Executive in the HKMA. Over the years he has made numerous contributions in different areas of HKMA’s work. In particular, he helped the HKMA in making timely and effective responses after the eruption of the Global Financial Crisis, which enabled Hong Kong to sail through the Crisis largely unscathed.”

He further added, “Given his competence, profound experience and vision, and extensive network in the financial field, both locally and externally, he is a very suitable person to lead the HKMA in achieving its missions and meeting the challenges in the years ahead.”

This news was announced several days after HKMA’s Executive Director (External), Vincent Lee, announced his resignation with effect on August 1st 2019, citing personal reasons.

He will be succeeded by Darryl Chan who currently services as the Executive Director for Corporate Services. Darryl Chan will still oversee the operations for Corporate Services pending the announcement of his successor.

Image Credit: Wikimedia Commons