Anselmo Teng, Departing Chairman of the Board of AMCM

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Chairman of the Board of Directors of the Monetary Authority of Macao (AMCM) Anselmo Teng will step down from his functions by the end of this month, TDM radio reported yesterday.
The chairman’s current contract, which lasts for one year, ends on August 26 and will not be renewed, the broadcaster announced, citing people close to the issue.
Teng is the first administrator of Chinese origin to assume office at AMCM, starting August 19, 1999.
The broadcaster further reported that Benjamin Chan, also a member of the Board of Directors of AMCM, is to succeed Teng.
Chan has been a member of the Board since August 16, 2015, when he replaced Félix Pontes, following the latter’s retirement.
Chan currently directs the Research and Statistics Department of the Authority, in addition to being a member of the Board of Directors of the Macau Institute of Financial Services.