

When in office, he proposed, in 2001, to cut the salaries of civil servants by 4.5%. Leung became Financial Secretary government post on. The Chair of the Commission was succeeded by Dame Rosanna Wong Yick-ming, the former Chairperson of the Housing Authority who resigned before a vote of no confidence in the Legislative Council of Hong Kong following a scandal concerning the improper construction of housing estates under the Home Ownership Scheme. He was an unofficial member of the Executive Council (1997–2001 April) and was responsible for Education Reform when he was the Chairman of Education Commission (1998–2001 April). Prior to becoming Financial Secretary, he was actively involved in public services. He relocated to Singapore shortly before he resigned from J.P.Morgan to become Financial Secretary. bank when commercial bank Chase Manhattan bought Wall Street investment firm J.P.Morgan in 2000. Morgan Chase & Co., which became the No.2 U.S. He oversaw the Asia-Pacific operation of J.P. He joined Chase Manhattan Corporation in 1996, where he rose to the rank of Asia-Pacific chairman. Leung rose to senior management positions at big international banks in Hong Kong. Leung started his banking career as a currency trader and spent 23 years with Citicorp where he took up regional management positions in investment, corporate and private banking in Hong Kong, New York, Singapore and Manila. He received an honorary Doctor of Laws at The Hong Kong University of Science and Technology in 1998. He completed Harvard Business School's Programme in Management Development in 1982 and the six-week Advanced Management Programme in 1999. It had been a long-term goal of Leung to be Financial Secretary, according to some classmates. During his university studies, he actively participated in student activities and was concerned with political issues. He received his secondary education in Ying Wa College and holds a Bachelor of Social Sciences degree, majoring in economics and statistics, from The University of Hong Kong.
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