Eddie Yue reappointed chief exec of Hong Kong central bank

His annual fixed pay is $7.4m for the five-year term.

Hong Kong has reappointed Eddue Yue as chief executive of the Hong Kong Monetary Authority (HKMA) for a term of five years, effective 1 October.

Yue is given a set annual fixed pay of $7.4m beginning his term. The pay will be reviewed in April each year.

His annual performance-linked variable pay will be capped at $2.3m throughout the five-year term, the Hong Kong government said in a press release.

Yue, 59, began his career as an administrative officer in the government in 1986, before joining the HKMA as a senior manager in 1993. He became deputy chief executive of the HKMA in 2007 and has served as HKMA chief executive since October 2019.

In a statement, Financial Secretary Paul Chan said that under Yue’s leadership the HKMA “maintained the stability of Hong Kong's money market and banking system” as well as helped safeguard the city’s financial security.

Other developments made during Yue’s first term include the roll out of the SME Financing Guarantee Scheme, and the HKMC Annuity Plan.

Yue’s HKMA also worked on building Hong Kong as an offshore renminbi hub, advancing fintech, and promoting the mutual access between the Mainland and Hong Kong financial markets, Chan said.