Norman Chan
Encyclopedia
Norman Chan CHAN Tak-Lam Norman, SBS
, JP
(born 1954), is a Chinese
banker, treasury official, and civil servant
. Chan currently serves as the Chief Executive of the Hong Kong Monetary Authority
, a position he has held since on 1 October 2009, following the retirement of his predecessor, Joseph Yam
. Chan previously served as Director of the Office of the Chief Executive of the Hong Kong Special Administrative Region
and Regional Vice-Chairman of Standard Chartered Bank.
, after earning a degree in the sociology
from the Chinese University of Hong Kong
. In 1976 Chan entered the Hong Kong Civil Service
as an Administrative Officer. By 1991 he was appointed a Deputy Director of Monetary Management
at the Exchange Fund of Hong Kong. In 1993 he became the Executive Director of the Hong Kong Monetary Authority
at the authority's creation. Chan was promoted to vice president of the Hong Kong Monetary Authority. In December 2005, he became the Vice-Chairman of the Asian region of Standard Chartered Bank
. In July 2007, he was appointed as Director of the Office of the Hong Kong Chief Executive. On July 17, 2009, Financial Secretary
John Tsang
, announced that Norman Chan was to replace Mr. Joseph Yam
as the Chief Executive of the HKMA following Joseph Yam's retirement. Chan is compensated with an annual salary of six million Hong Kong dollars.
Silver Bauhinia Star
The Silver Bauhinia Star is the second rank in the Order of the Bauhinia Star in Hong Kong, awarded to persons who have taken a leading part in public affairs or voluntary work over a long period...
, JP
Justice of the Peace
A justice of the peace is a puisne judicial officer elected or appointed by means of a commission to keep the peace. Depending on the jurisdiction, they might dispense summary justice or merely deal with local administrative applications in common law jurisdictions...
(born 1954), is a Chinese
China
Chinese civilization may refer to:* China for more general discussion of the country.* Chinese culture* Greater China, the transnational community of ethnic Chinese.* History of China* Sinosphere, the area historically affected by Chinese culture...
banker, treasury official, and civil servant
Hong Kong Civil Service
The Hong Kong Civil Service is managed by 12 policy bureaux in the Government Secretariat, and 67 departments and agencies, mostly staffed by civil servants. The Secretary for the Civil Service is one of the Principal Officials appointed under the Accountability System and a Member of the...
. Chan currently serves as the Chief Executive of the Hong Kong Monetary Authority
Hong Kong Monetary Authority
The Hong Kong Monetary Authority or HKMA is Hong Kong's central banking institution . It is a government authority founded on 1 April 1993 via the consolidation of "Office of the Exchange Fund" and the "Office of the Commissioner of Banking"...
, a position he has held since on 1 October 2009, following the retirement of his predecessor, Joseph Yam
Joseph Yam
The Honourable Joseph Yam Chi-kwong, GBM, GBS, CBE, JP is a Hong Kong statistician, economist and civil servant. Yam was the Chief Executive of the Hong Kong Monetary Authority from April 1993 to 1 October 2009.-Biography:...
. Chan previously served as Director of the Office of the Chief Executive of the Hong Kong Special Administrative Region
Chief Executive of Hong Kong
The Chief Executive of Hong Kong is the President of the Executive Council of Hong Kong and head of the Government of the Hong Kong Special Administrative Region. The position was created to replace the Governor of Hong Kong, who was the head of the Hong Kong government during British rule...
and Regional Vice-Chairman of Standard Chartered Bank.
Career
Norman Chan graduated from Queen's College, Hong KongQueen's College, Hong Kong
Queen's College , initially named The Government Central School in 1862, later renamed as Victoria College in 1889, is a sixth form college for boys with a secondary school attached. It was the first public secondary school founded in Hong Kong by the British colonial government...
, after earning a degree in the sociology
Sociology
Sociology is the study of society. It is a social science—a term with which it is sometimes synonymous—which uses various methods of empirical investigation and critical analysis to develop a body of knowledge about human social activity...
from the Chinese University of Hong Kong
Chinese University of Hong Kong
The Chinese University of Hong Kong is a research-led university in Hong Kong.CUHK is the only tertiary education institution in Hong Kong with Nobel Prize winners on its faculty, including Chen Ning Yang, James Mirrlees, Robert Alexander Mundell and Charles K. Kao...
. In 1976 Chan entered the Hong Kong Civil Service
Hong Kong Civil Service
The Hong Kong Civil Service is managed by 12 policy bureaux in the Government Secretariat, and 67 departments and agencies, mostly staffed by civil servants. The Secretary for the Civil Service is one of the Principal Officials appointed under the Accountability System and a Member of the...
as an Administrative Officer. By 1991 he was appointed a Deputy Director of Monetary Management
Monetary policy
Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting a rate of interest for the purpose of promoting economic growth and stability. The official goals usually include relatively stable prices and low unemployment...
at the Exchange Fund of Hong Kong. In 1993 he became the Executive Director of the Hong Kong Monetary Authority
Hong Kong Monetary Authority
The Hong Kong Monetary Authority or HKMA is Hong Kong's central banking institution . It is a government authority founded on 1 April 1993 via the consolidation of "Office of the Exchange Fund" and the "Office of the Commissioner of Banking"...
at the authority's creation. Chan was promoted to vice president of the Hong Kong Monetary Authority. In December 2005, he became the Vice-Chairman of the Asian region of Standard Chartered Bank
Standard Chartered Bank
Standard Chartered PLC is a multinational financial services company headquartered in London, United Kingdom with operations in more than seventy countries...
. In July 2007, he was appointed as Director of the Office of the Hong Kong Chief Executive. On July 17, 2009, Financial Secretary
Financial Secretary (Hong Kong)
Financial Secretary , often abbreviated as FS, is a position of the Government of Hong Kong. The FS assists the Chief Executive in supervising the policy bureaux as directed by the CE, mostly finance and economy-related, and plays a key role in ensuring harmonisation in policy formulation and...
John Tsang
John Tsang
John Tsang Chun-wah , GBM, JP, is the current Financial Secretary of Hong Kong. His responsibility is to assist the Chief Executive of Hong Kong in overseeing policy formulation and implementation in financial, monetary, economic, trade and employment matters. He exercises control over the...
, announced that Norman Chan was to replace Mr. Joseph Yam
Joseph Yam
The Honourable Joseph Yam Chi-kwong, GBM, GBS, CBE, JP is a Hong Kong statistician, economist and civil servant. Yam was the Chief Executive of the Hong Kong Monetary Authority from April 1993 to 1 October 2009.-Biography:...
as the Chief Executive of the HKMA following Joseph Yam's retirement. Chan is compensated with an annual salary of six million Hong Kong dollars.