The chief executive of the Hong Kong Monetary Authority (HKMA), Norman Chan, has announced he will step down from his position on 1 October. The HKMA, which acts as a cross between Hong Kong's de facto financial regulator and its central bank, was established in 1993, whereupon Chan became its executive director. Chan served as the HKMA's deputy chief executive from 1996 to 2005, then as vice chairman at Standard Chartered Bank's Asia division from 2005 to 2007. Hong Kong's financial secretary Paul Chan issued a statement to say, "Norman has been leading the HKMA since 2009 and h...
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