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The Hong Kong Mortgage Corporation Limited Appointment of new Chief Executive Officer (with photo)

The following is issued on behalf of the Hong Kong Monetary Authority:

     The Hong Kong Mortgage Corporation Limited (HKMC) announced today (September 20) that the Board of the HKMC has approved the appointment of Mr Raymond Li Ling-cheung as Chief Executive Officer (CEO) of the HKMC with effect from January 1, 2013.  Mr Li will succeed Mr James H Lau Jr who will be retiring from the HKMC.

     Mr Li is an Executive Director currently holding the position of Director-General (Enforcement) at the Hong Kong Monetary Authority (HKMA). He will be seconded from the HKMA to take up the CEO position.  Mr Li joined the Hong Kong Government in 1982 as an Administrative Officer and worked in the Monetary Affairs Branch of the Government Secretariat from 1986.  Mr Li joined the HKMA as Division Head in 1993 and was promoted to be an Executive Director in 1996.  His responsibilities covered a wide range of banking policy and development issues as well as corporate services.

     "On behalf of the Board, I would like to thank Mr Lau for his dedication and invaluable contribution to the Corporation during the last eight years.  The Corporation has seen healthy development and its launch of various new initiatives is serving Hong Kong well," said the Chairman of the HKMC, Mr John C Tsang.  "I also look forward to working with Mr Li to further develop the business of the Corporation," said Mr Tsang.

Ends/Thursday, September 20, 2012
Issued at HKT 18:35


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