TAIPEI (REUTERS) - Yang Chin-long, deputy governor of Taiwan's central bank, will replace Perng Fai-nan at the helm when the 79-year-old financial veteran retires next month, two sources with knowledge of the matter told Reuters on Saturday (Jan 27).

Perng, the bank's governor for 20 years, will become a central bank adviser when his term expires, the sources said.

According to the sources, Taiwan's President Tsai Ing-wen has recently invited Perng to talks at the presidential palace in a last-ditch effort to persuade him to stay on as governor.

Yang's appointment must still be approved by the presidential palace.

The central bank and presidential office could not be immediately reached for comment outside business hours.

Yang was born in 1953. The 64-year-old holds a doctorate degree from the Institute of Economic Research at the University of Birmingham.

Before becoming the central bank's vice governor, Yang was director of the bank's London representative office.