Published On: Mon, Oct 4th, 2010

HK Exchanges: Ex-China Regulator To Head Mainland Market Development Team

Hong Kong Exchanges & Clearing Ltd. (0388.HK) said Monday it appointed a former China securities regulator to head its mainland market development department.

Yang Qiumei was most recently a deputy director-general at the China Securities Regulatory Commission, where she was in charge of supervising fund management companies and matters related to Qualified Foreign Institutional Investors and Qualified Domestic Institutional Investors, the exchange operator said in a statement.

Yang will start her new role as Hong Kong Exchanges’ senior vice president, deputy head of market development and head of the market development division’s mainland development department, on Oct. 18. She will be a member of the bourse operator’s senior management committee and will report to Head of Market Development Romnesh Lamba.

Yang’s appointment is permanent but comes as China has been sending individuals for stints at the territory’s regulatory bodies in recent years amid increasing cooperation between securities markets in mainland China and Hong Kong.

Yang, who joined China’s securities regulator in August 2000, was a member of its planning commission and Department of International Affairs, the statement said, adding she was involved in the CSRC’s signing of the International Organisation of Securities Commissions’ Multilateral Memorandum of Understanding.

-By Kate O’Keeffe, Dow Jones Newswires;

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