SFC's first non-executive chairman boasts impeccable credentials
He is no household name but Eddy Fong Ching, who will take up a three-year appointment as the first non-executive chairman of the Securities and Futures Commission, has impeccable establishment credentials and a strong public service record.
His acceptance of the post, which proved hard to fill after it was shorn of its former executive powers, comes as a relief to the government, which had been rebuffed by several higher-profile choices since Andrew Sheng relinquished the role of chairman a year ago.
A retired accountant, Mr Fong, 59, is married to the one-time executive councillor Nellie Fong Wong Kut-man. His elder brother Fong Hup, a Deloitte Touche Tohmatsu partner, is a government-appointed director at Hong Kong Exchanges and Clearing. His younger brother Mark Fong Chung, a partner at PricewaterhouseCoopers, is vice-president of the Hong Kong Institute of Certified Public Accountants.
He has held many non-executive appointments in the public sector, including the Mandatory Provident Fund Scheme Authority, Exchange Fund Investments, the Hong Kong Mortgage Corp, the Housing Authority and currently the Open University of Hong Kong, where he is treasurer.
To ensure his impartiality in his new role, he will give up his non-executive directorships of Parkson Retail, China Resources Power, Sunevision and Tradelink Electronic Commerce.