With an eye on China's economic development, Hong Kong's Financial Secretary wants to upgrade and deepen the city's pool of financial talent.
In February this year, during his budget speech, Hong Kong's Financial Secretary Paul Chan tasked the Hong Kong Monetary Authority (HKMA) to establish an academy of finance. The HKMA has now proposed a recommendation to set up the institution, according to a statement on its website.
The HKMA named an experts group made up of David Eldon, Anthony Neoh, Carlson Tong and Moses Cheng, to study the feasibility of an academy of finance.
Best Practices
The group put forward recommendations to the HKMA last month suggesting the academy of finance should work closely with the Government, the regulators, the financial sector, tertiary institutions and professional training bodies in its work.
The group also advocated that the academy should work as a center of excellence for promoting financial leadership development and a repository of knowledge and center for monetary and financial research. The academy of finance is slated to launch around the middle of next year.
