February 21, 2019 / 9:21 AM / a month ago

MOVES-Hong Kong central bank chief Norman Chan to retire in Oct

HONG KONG, Feb 21 (Reuters) - Hong Kong’s central bank Chief Executive Norman Chan will retire on Oct. 1 this year, after completing exactly 10 years in the role, a government statement said on Thursday.

Chan, a long serving member of Hong Kong’s civil service, joined the Hong Kong Monetary Authority (HKMA), the country’s banking regulator and de facto central bank, at its establishment in 1993, and was appointed chief executive in 2009.

He also worked at Standard Chartered between 2005 and 2007.

“In the aftermath of the global financial crisis... Norman has played a pivotal role in the international financial system reform agenda,” Hong Kong Financial Secretary Paul Chan said in the statement.

Chan said he felt now is the right time to retire and spend more time with his family.

Paul Chan is chairing a selection panel which will identify Norman Chan’s successor, the statement added.

Reporting by Alun John; Editing by Rashmi Aich

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