How Yam secured his place in history

On 1 October, Joseph Yam bowed out after 28 years in charge of Hong Kong's monetary and banking affairs - first as director of the Office of the Exchange Fund and then, since its creation in 1993, as chief executive of the Hong Kong Monetary Authority (HKMA), the territory's central bank.

Humble pie

He leaves an impressive legacy. Most prominently, his support, both practical and intellectual, for the peg of the Hong Kong dollar to the American dollar, has provided the monetary stability necessa