A WORLD Bank official has been named deputy chief executive (monetary) of the Hong Kong Monetary Authority, effective October 1. Andrew Sheng, 47, is currently senior manager for financial markets and payment systems in the financial sector development department at the bank. During his four years at the bank, he has been advising on financial-sector reforms in a number of developing countries, including China. Financial Secretary Hamish MacLeod said Mr Sheng had much experience in central banking and very good exposure on financial and monetary matters. Previously, he had spent 13 years in Bank Negara Malaysia. Mr Sheng, who is a Malaysian Chinese, received his first-class honours degree in economics from the University of Bristol, England, in 1969. He was awarded a fellowship at the Institute of Chartered Accountants, England and Wales, in 1982. The Monetary Authority, headed by Joseph Yam as chief executive, was established in April, combining the Exchange Fund office and the Banking Commissioner's Office.