HKMA Bank Voodoo economics management teams:

Mr Y.K. Choi as Deputy Chief Executive

Three HKMA evil guys that bought Lehman Minibonds to HK:

1. Y.K.Choi
2. Yue
3. Ryback (retired)

Joseph Yam used Ryback that let loose on bank complaints that led to Lehman Minibonds scandals.

HKMA Appointments

The Hong Kong Monetary Authority (HKMA) announced today (Friday) that the Financial Secretary, following the advice of the Governance Sub-Committee of the Exchange Fund Advisory Committee, has approved the appointments of Mr Y.K. Choi as Deputy Chief Executive responsible for the banking system and Mr Eddie Yue as Deputy Chief Executive responsible for monetary management, financial infrastructure, reserves management, and strategy and risk. Both appointments take effect on 1 September 2007.

Mr Choi, who is currently Deputy Chief Executive responsible for monetary management, financial infrastructure, reserves management, and strategy and risk, joined the HKMA as Head (Banking Policy) in 1993. He became Head (Administration) in 1994, and was appointed Executive Director (Banking Supervision) in 1995 before taking up his present position in June 2005. Before joining the HKMA he served in the Office of the Commissioner of Banking from 1974 and became Assistant Commissioner of Banking in 1990 after a one-year secondment to the Bank of England. Mr Choi will succeed Mr William Ryback, who retires from the HKMA on 31 August after having served as Deputy Chief Executive with responsibility for the banking system since 2003.

Mr Yue, who will succeed Mr Choi, is currently the Executive Director with responsibility for monetary management and financial infrastructure. Mr Yue joined the HKMA in 1993 as a Senior Manager, after having served as an Administrative Officer in the Hong Kong Government since 1986. He became a Division Head in 1994, working in a number of divisions, including Monetary Management, External Relations, and Banking Development, and serving as Administrative Assistant to the Chief Executive of the HKMA. Mr Yue was appointed Executive Director (Corporate Services) in June 2001 and to his present position in July 2004.

Commenting on Mr Ryback’s forthcoming retirement from the HKMA, the Chief Executive of the HKMA, Mr Joseph Yam, said that Mr Ryback had made great contributions at a time of change and development in Hong Kong’s banking sector. “During his four years with the HKMA, Bill Ryback has seen through the preparation and introduction of policies to give effect to the Basel II reforms in Hong Kong. This has been a considerable and complex undertaking with far-reaching implications for banking in Hong Kong. The experience and wisdom that Bill brought to Hong Kong have helped ensure the success of this project, and have helped enable Hong Kong to be among the first jurisdictions in the world to implement Basel II. Bill’s colleagues and friends in the HKMA wish him every happiness in his retirement,” Mr Yam said.

For further enquiries, please contact: Sara Yip, Manager (Press), at 2878 8246 or Thomas Chan, Senior Manager (Press), at 2878 1480

Hong Kong Monetary Authority

30 March 2007

HANS GENBERG is Executive Director, Research Department at the Hong Kong Monetary Authority (HKMA). He is also Director of the Hong Kong Institute for Monetary Research (HKIMR). He obtained his PhD degree in Economics from the University of Chicago. He had been working as a Professor in Economics at the Graduate Institute of International Studies since 1979. Prior to joining the HKMA and HKIMR in February 2005, he was the Head of the Economics Section of the Institute. He has also been a visiting scholar at the International Monetary Fund and the World Bank. He has published widely on issues related to monetary and exchange rate policy in a number of journals, including the Journal of Monetary Economics and the Journal of International Economics. He has a keen research interest in monetary and financial developments in East Asia

CHO-HOI HUI is Head, Market Research Division of the Research Department, HKMA. He was previously a senior manager in the Banking Policy Department. Prior to joining the HKMA in 1997, he was a derivative analyst at Citibank. His research papers have appeared in a number of journals, including the Journal of Risk, Finance and Stochastics, the Journal of Fixed Income, and Quantitative Finance. He holds a BS in physics from the University of Wisconsin at Madison and a PhD in applied physics from Cornell University.

Its seems those PhDs are either from U. of Chicago Voodoo economics policy and in Physics. No macroeconomic experts and social science majors in HKMA to take care of HK government economics policy, HKMA only cares about derivative products and gambling in international markets.