Norman Chan

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Norman Chan

Norman Chan.jpg
2nd Chief Executive of the Hong Kong Monetary Authority
In office
1 October 2009 – 30 September 2019
Chief ExecutiveSir Donald Tsang
Leung Chun-ying
Carrie Lam
Preceded byJoseph Yam
Succeeded byEddie Yue
3rd Director of the Chief Executive's Office
In office
1 July 2007 – 31 July 2009
Preceded byDonald Tsang
Succeeded byRaymond Tam
Personal details
Born
Norman Chan Tak-Lam

1954
Hong Kong
NationalityHong Kong Chinese
Political partynone
Children2
Alma materQueen's College
Chung Chi College, CUHK (BSS)
OccupationTreasury official, Civil servant
ProfessionSociologist, bank director, civil servant
Signature
Norman Chan
Traditional Chinese陳德霖
Simplified Chinese陈德霖

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]

  1. ^ "Home return" experiences
  2. ^ "HKMA: The Chief Executive's Committee". 30 September 2009. Retrieved 1 October 2009. CS1 maint: discouraged parameter (link)
  3. ^ "The HKMA Organisation Chart" (PDF). 30 September 2009. Retrieved 1 October 2009. CS1 maint: discouraged parameter (link)
  4. ^ a b "Tak-Lam Chan:Executive Profile & Biography -BusinessWeek". 30 May 2011. Retrieved 11 May 2011. CS1 maint: discouraged parameter (link)
  5. ^ "Monetary authority chief's salary tops HK$9.4m". scmp. 27 April 2013. Retrieved 4 May 2019. CS1 maint: discouraged parameter (link)
  6. ^ http://www.scmp.com/business/banking-finance/article/1453525/norman-chan-reappointed-hong-kong-monetary-authority-chief
  7. ^ "Norman Chan to retire after 10-year run as CEO". HK Standards. 21 February 2019. Retrieved 7 March 2019. CS1 maint: discouraged parameter (link)
  8. ^ Beijing draws up plan to replace Carrie Lam as Hong Kong chief, Financial Times, 23 October 2019
  9. ^ China plans to replace Hong Kong leader Lam with 'interim' chief executive: FT, Reuters, 23 October 2019
  10. ^ Occupy threatens city's growth, warn Norman Chan and Joseph Yam, SCMP, 30 October 2014
  11. ^ a b "Exclusive: Norman Chan buys Wan Chai office amid talk of Chief Executive bid". Apple Daily 蘋果日報 (in Chinese). Retrieved 7 October 2020.

External links[edit]

Political offices
Preceded by
John Tsang
Director of the Chief Executive's Office
2007–2009
Succeeded by
Raymond Tam
Government offices
Preceded by
Joseph Yam
Chief Executive of the Hong Kong Monetary Authority
2009 – present
Incumbent