The former central banker is poised to succeed Laura Cha as chairman of Hong Kong Exchanges & Clearing Ltd. when her term ends in April, according to the people, who asked not to be identified because the discussion are internal. At 74, Yam is one year older than Cha, who was the first woman to lead the Hong Kong exchange. The decision on the next chairperson isn’t final yet.
Yam and former Securities and Futures Commission Chairman Carlson Tong joined the exchange’s board in April. The chairmanship is subject to approval from the city’s chief executive for a maximum of six years. Yam remained active in financial circles after retiring from the HKMA in 2009, serving on both executive councils — Hong Kong’s version of a cabinet — current leader John Lee and his predecessor Carrie Lam. He remained close with the former Chinese central banker Zhou Xiaochuan, sat on China Construction Bank Corp.’s board and made regular appearances at industry events.
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