YK Choi will succeed William Ryback as deputy Chief executive responsible for the banking system, the Monetary Authority has announced. Mr Choi is currently Deputy Chief Executive responsible for monetary management, financial infrastructure, reserves management, and strategy and risk.

Mr Choi's post will be filled by Eddie Yue, the authority's Executive Director with responsibility for monetary management and financial infrastructure.

Both appointments will take effect on September 1. Mr Ryback will retire from the authority on August 31.

Commenting on Mr Ryback's retirement, the Authority's Chief Executive Joseph Yam said he had made great contributions at a time of change and development in Hong Kong's banking sector.