Hong Kong Precious Metals Central Clearing (HKPMCC) has appointed Bryan Chan Ping-keung as its inaugural CEO. He will take up the role on 2 October for a three-year term.
The appointment, announced by the Government of the Hong Kong Special Administrative Region (HKSAR), follows recommendations by a selection panel and approved by HKPMCC’s board.
Chan will lead the operation and development of Hong Kong’s central clearing and settlement system for gold. This includes clearing and settling over-the-counter gold transactions and working with refiners, financial institutions and the government to develop a comprehensive gold trading ecosystem in Hong Kong.
Secretary for Financial Services and the Treasury Christopher Hui, who chairs the HKPMCC board, says the National 15th Five-Year Plan supports Hong Kong’s development of a commodity trading ecosystem. Hong Kong’s own first five-year plan identifies gold as an entry point to broader commodity trading.
The HKPMCC board includes representatives from the government, the Shanghai Gold Exchange, the Hong Kong Monetary Authority, the Securities and Futures Commission and 11 banks.
Chan previously served as principal assistant secretary for financial services, overseeing securities and derivatives market policies, as well as the merger and listing of the Hong Kong Exchanges and Clearing (HKG:0388), or HKEX.
He joined the HKEX in 2000 and was promoted to managing director and co-head of equities and fixed income currency in its global markets division.
Write to Amy Rotman at Mining.com.au
Main image: HKSAR Government
