Pricewaterhouse Coopers elects new executive chairman

Silas Yang succeeds Patrick Paul, who is stepping down after leading the Hong Kong firm for seven years. In his new role, Yang will head the PricewaterhouseCoopers' office in Hong Kong, which has more than 110 partners and 2000 employees.

Currently a partner of PricewaterhouseCoopers' Assurance & Business Advisory Services practice, Yang takes up his new position in July.

He says: "The focus of technology and globalization have transformed the business environment in recent years. Locally, as a result of the growing trade links between companies in Hong Kong and China, particularly in anticipation of China's accession to the WTO, the dynamics of doing business in Hong Kong are also changing. Our clients have a higher expectation that we will be able to help them in adapting to this change."

Yang is a graduate of the London School of Economics and Political Sciences.