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The Hong Kong government has appointed Bryan Chan Ping-keung, a former executive at bourse operator Hong Kong Exchanges and Clearing (HKEX), as CEO to lead the development and operation of the city’s new central clearing and settlement system for gold.
Chan will head Hong Kong Precious Metals Central Clearing (HKPMCC), a wholly government-owned entity established in January to run the clearing system for precious metals. His appointment would take effect on October 2 for a three-year term, according to a statement released on Monday.
Chan would be expected to deliver efficient and reliable clearing and settlement services for over-the-counter gold transactions, work closely with industry participants and collaborate with the government to build an international-standard gold trading ecosystem, the government said.
Secretary for Financial Services and the Treasury Christopher Hui Ching-yu, who is also chairman of HKPMCC, expressed confidence in Chan’s leadership.
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