The Hong Kong Monetary Authority has carried out a package of reassignments covering five executive director-level posts, according to an internal memo outlining moves linked to its next generation of leadership.
Under the memo, Alan Au - who is currently the executive director for banking conduct - will take on the role of chief risk officer for the Exchange Fund Investment Office. His new responsibilities will include oversight of risk and compliance. That change is scheduled to take effect on June 22, and Au will succeed Grace Lau in the Exchange Fund Investment Office position.
Grace Lau will not leave the organisation but will move into a role focused on corporate services. The memo specifies that this remit includes corporate communications functions.
Three further adjustments to executive director positions will be implemented in July. Kenneth Hui, currently serving as executive director of external affairs and responsible for aspects of yuan internationalization, will shift to a role overseeing banking conduct. The memo notes that this appointment will be Hui's first formal post on the banking side.
Daryl Ho has been named to replace Hui as executive director of external affairs. Ho presently serves as executive director of monetary management. The memo also recalls that Ho recently oversaw the approval of the first batch of stablecoin licenses while in his monetary management capacity.
The internal communication frames these reassignments as part of preparations for a new generation of leadership at the authority. The memo provides effective dates for some moves - notably the June 22 transition for the Exchange Fund Investment Office role - and indicates the remainder will follow in July.
While the memo sets out a series of named appointments and effective timelines, the communication focuses on personnel and role allocation rather than operational detail. The document links particular functional responsibilities - including yuan internationalization and stablecoin licensing approvals - to executives whose portfolios are changing under the reassignment plan.