People: China names new vice-governor

China: Liu Guoqiang, assistant governor at the People’s Bank of China, has been promoted to the role of vice-governor.

A statement from the government confirmed Liu’s appointment. Reportedly, Zhu Hexin, deputy governor of Sichuan province, will be appointed to the remaining vice-governor role.

Liu joined the PBoC in 2016, prior to which he worked at the Communist party’s general office. For 14 years, he led the ruling party’s Group for Financial and Economic Affairs.

Singapore: In conjunction with the launch of a new governance code, the Monetary Authority of Singapore has begun setting up a Corporate Governance Advisory Committee.

“The CGAC will comprise senior practitioners with experience as board chairmen or directors, corporate governance experts and representatives from diverse stakeholder groups,” the authority said.

The committee will be responsible for monitoring the implementation of the new code, aimed at ensuring firms abide by the “comply or explain” regime. Companies will have to ensure they make “meaningful disclosures” to their stakeholders around “remuneration and value creation”, and strengthen director independence.

The CGAC is expected to be established by the end of 2018.

Ireland: The Central Bank of Ireland has chosen Mary-Elizabeth McMunn to serve as director of credit institution supervision.

“Her leadership, technical knowledge and commitment to public service make her an ideal choice as director. I look forward to working with Mary-Elizabeth in this leadership position,” said deputy governor Ed Sibley on her appointment.

McMunn is currently head of supervisory risk at the central bank. In her new post, her responsibilities will switch to supervising Ireland’s banks and registry of credit unions.

She will also join the central bank’s senior leadership team and look after 150 staff.

US: The Federal Reserve Bank of New York has made three new appointments to its advisory council on small businesses and agriculture.

Donnel Baird, Jaswinder Chadha and Sarah LaFleur will join the council ahead of its second meeting. Council members include chief executives and presidents from small businesses, including agricultural businesses.

Baird is chief executive of BlocPower, a startup solar energy company set up to help small businesses, non-profits and places of worship cut their energy costs. Chadha is founder of Axtria, a cloud technology provider aimed at helping businesses better use their data. LaFleur runs her own retail fashion business.

The council meets three times a year with the New York Fed president and staff to discuss issues surrounding business activity, the economic outlook, the labour market and other issues affecting business conditions.