Norman Chan
 |
Norman Chan | |
|---|---|
 | |
| 2nd Chief Executive of the Hong Kong Monetary Authority | |
| In office 1 October 2009 – 30 September 2019 | |
| Chief Executive | Sir Donald Tsang Leung Chun-ying Carrie Lam |
| Preceded by | Joseph Yam |
| Succeeded by | Eddie Yue |
| 3rd Director of the Chief Executive's Office | |
| In office 1 July 2007 – 31 July 2009 | |
| Preceded by | Donald Tsang |
| Succeeded by | Raymond Tam |
| Personal details | |
| Born | Norman Chan Tak-Lam 1954 Hong Kong |
| Nationality | Hong Kong Chinese |
| Political party | none |
| Children | 2 |
| Alma mater | Queen's College Chung Chi College, CUHK (BSS) |
| Occupation | Treasury official, Civil servant |
| Profession | Sociologist, bank director, civil servant |
| Signature |  |
| Norman Chan | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Traditional Chinese | 陳德霖 | ||||||||||||
| Simplified Chinese | 陈德霖 | ||||||||||||
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Norman Chan Tak-lam, GBS, JP (born 1954), is a Hong Kong banker, treasury official, and civil servant. Chan was Chief Executive of the Hong Kong Monetary Authority from 2009 to 2019.[2][3] He previously served as Director of the Office of the Chief Executive of the HKSAR and Regional Vice-Chairman of Standard Chartered Bank.[4]
Career[edit]
Norman Chan graduated from Queen's College, Hong Kong, and then earned a degree in sociology at 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. At the creation of the Hong Kong Monetary Authority (HKMA) in 1993, Chan was named an Executive Director, and later took the role of vice president. In December 2005, he became the Vice-Chairman of the Asian region of Standard Chartered Bank.[4] In July 2007, he was appointed as Director of the Office of the Hong Kong Chief Executive.
In July 2009, Financial Secretary John Tsang named Chan to the role of HKMA Chief Executive, from 1 October that year, on the retirement of Joseph Yam. Chan was compensated with an annual base salary of HK$6 million.[5] With his reappointment in 2014,[6] Chan served as Chief Executive for exactly ten years, stepping down from the role in a pre-announced move on 1 October 2019.[7]
Within weeks, he was reportedly in consideration for the role of Chief Executive of Hong Kong, as news leaked of Carrie Lam's imminent removal from the post.[8][9]
Political comment[edit]
In 2014, he and his HKMA predecessor Joseph Yam said that Occupy (the 2014 Hong Kong protests, aka the Umbrella Movement) could threaten city's economic growth.[10]
Office[edit]
In June 2020, Chan and his wife, through their company Citirich (Hong Kong) Limited bought a 1,040 square foot office on the 10th floor of the Kam Chung Commercial Building on Hennessy Road in Wan Chai.[11] The office was purchased for HK$10.8 million without a mortgage.[11]
References[edit]
- ^ "Home return" experiences
- ^ "HKMA: The Chief Executive's Committee". 30 September 2009. Retrieved 1 October 2009.
- ^ "The HKMA Organisation Chart" (PDF). 30 September 2009. Retrieved 1 October 2009.
- ^ a b "Tak-Lam Chan:Executive Profile & Biography -BusinessWeek". 30 May 2011. Retrieved 11 May 2011.[dead link]
- ^ "Monetary authority chief's salary tops HK$9.4m". scmp. 27 April 2013. Retrieved 4 May 2019.
- ^ "Norman Chan reappointed as Hong Kong Monetary Authority chief". 21 March 2014.
- ^ "Norman Chan to retire after 10-year run as CEO". HK Standards. 21 February 2019. Retrieved 7 March 2019.
- ^ Beijing draws up plan to replace Carrie Lam as Hong Kong chief, Financial Times, 23 October 2019
- ^ China plans to replace Hong Kong leader Lam with 'interim' chief executive: FT, Reuters, 23 October 2019
- ^ Occupy threatens city's growth, warn Norman Chan and Joseph Yam, SCMP, 30 October 2014
- ^ a b "Exclusive: Norman Chan buys Wan Chai office amid talk of Chief Executive bid". Apple Daily 蘋果日報 (in Chinese (Hong Kong)). Retrieved 7 October 2020.[permanent dead link]