New MPFA COOs tackle legal reforms

The Mandatory Provident Fund Schemes Authority (MPFA) has appointed Hendena Yu and Diana Chan, formerly executive directors, to co-chief operating officers as of Monday. Yu previously oversaw the Occupational Retirement Scheme Ordinance (ORSO) retirement plans run by companies. She now adds the Mandatory Provident Fund (MPF) to her bailiwick. Chan, who oversees corporate affairs, will now also oversee policy development as well as information technology.

MPF implementation and regulation was previously overseen by executive director Raymond Tam. His new role will be to review MPF monitoring, compliance and any changes needed to it, essentially a policy development role, reporting to Diana Chan. A fourth executive director, Ernest Lee, who handled enforcement and member protection issues for retirement assets, will now also oversee MPFA’s call centre and monitor complaints, and will report to Yu.