5 assistant chief positions at the Hong Kong Monetary Authority have been swapped to prepare for the cultivation of the next generation of leadership.

According to reports, the Hong Kong Monetary Authority (HKMA) is rotating five assistant chief positions in preparation for grooming the next generation of leadership. A spokesperson for the HKMA responded by saying that the personnel system of the HKMA is effective and appropriate arrangements will be made based on work and institutional development needs. Personnel arrangements for assistant chiefs and above are decided by the Financial Secretary of Hong Kong after considering the views of the Exchange Fund Advisory Committee's Governance Committee, and the HKMA does not comment on individual personnel arrangements. The report states that Joseph Yeung, Assistant Chief responsible for banking conduct, will take over as Chief Risk Officer of the Currency Fund Investment Office from another Assistant Chief, Winnie Lau, starting on June 22. Winnie Lau will be reassigned to handle institutional expansion, operations, corporate communications, and other functions. Three more personnel changes will take place in July, with Simon Ko, Assistant Chief of the External Department and Head of Renminbi Internationalization, taking over responsibilities for banking conduct while being replaced by Calvin Ho, Assistant Chief of Monetary Management. As for Edwin Ng, currently responsible for institutional expansion and operations, he will take over Calvin Ho's role in monetary management. It is reported that Eddie Yue, Chief Executive of the HKMA, is currently over 60 years old, and three deputy chiefs are also over 60 or approaching that age. The assistant chiefs being rotated this time are reported to be between 40 to over 50 years old.