Advisory Committees

The Exchange Fund Advisory Committee 
Governance Sub-Committee

The Governance Sub-Committee monitors the performance of the HKMA and makes recommendations on remuneration and human resources policies, and on budgetary, administrative and governance issues. The full terms of reference for the Sub-committee is available here.

Chairman

Mr Christopher CHENG Wai-chee, GBS, JP
Chairman
USI Holdings Limited

Members

Mr Henry FAN Hung-ling, SBS, JP

Mr Simon IP Sik-on, JP

Mr Thomas KWOK Ping-kwong, SBS, JP
Vice Chairman and Managing Director
Sun Hung Kai Properties Limited

Professor the Hon. Lawrence J. LAU, JP
Vice-Chancellor
The Chinese University of Hong Kong 

Mr David SUN Tak-kei, BBS, JP
Far East Area Managing Partner
Ernst & Young

Mr John CHAN Cho-chak, GBS, JP
Chairman
The Hong Kong Jockey Club

Secretary

Mr Howard LEE
Head, Corporate Development
Hong Kong Monetary Authority

Terms of reference

(1)      To monitor the performance of the HKMA in carrying out its functions and responsibilities and in its use of resources, and to formulate recommendations to the Financial Secretary through the Exchange Fund Advisory Committee (EFAC) on

(a)      the remuneration and human resources policies of the HKMA;

(b)      remuneration for HKMA staff, taking account of the Sub-Committee's assessment of the quality and effectiveness of the HKMA's work; and

(c)      the use of resources of the HKMA, including its annual administrative budget.

(2)      To consider recommendations and provide advice to the Financial Secretary on the appointment and dismissal of staff at the level of Executive Director and above.

(3)      To keep under review the governance arrangements for the HKMA and to make recommendations to the Financial Secretary through EFAC as appropriate.

Updated on 1 February 2010