HKEx Announces Revised Corporate Structure, Senior Personnel Changes and Appointments
Hong Kong Exchanges and Clearing Limited (HKEx) announced today (Wednesday) the following revisions to its organisation structure, senior personnel changes and appointments. The changes, including arrangements which are part of HKEx’s succession planning, are expected to better position the company to support its long term strategic development.
Reorganisation in the Secondary Market departments
Effective from 1 July 2010, Eric Yip, currently Head of the Cash Market Department, will become Deputy Chief Operating Officer. Mr Yip will primarily focus on implementation of certain initiatives of the 2010-2012 Strategic Plan.
Calvin Tai, currently Head of the Derivatives Market Department, has been appointed Head of the new Trading Division, which will combine the current Cash Market and Derivatives Market departments. He also will take up his new role on 1 July 2010.
HKEx believes integration of the Cash Market and Derivatives Market departments will achieve operational synergies and more effective implementation of key strategic initiatives in the Secondary Market. The new responsibilities assigned to Mr Yip and Mr Tai are expected to further enrich their exposure and management experience.
Mr Yip, Mr Tai and heads of the remaining Secondary Market departments will continue to report to HKEx Chief Operating Officer Gerald Greiner.
Personnel changes in the Information Technology Division (ITD)
Bill Chow, currently Deputy Head of the ITD, will succeed Alfred Wong as the company’s Chief Technology Officer (CTO) from 1 September 2010. Mr Chow will co-head the ITD with Roger Lee, who is currently Head of Listing Operations. The dual-leadership arrangement highlights the repositioning of the ITD as a business partner and allows Mr Chow to focus on the technical development of HKEx’s IT infrastructure while Mr Lee will take an active role in resource management, operations, administration and governance of the ITD. The co-heads of the ITD will report to HKEx Chief Executive Charles Li.
Mr Wong will retire from his current position of CTO and Head of the ITD at end of August. He will serve HKEx in a new capacity as an advisor and will continue to offer advice on matters related to HKEx’s IT strategies as needed. Mr Wong will be a member of the HKEx Advisory Services team.
HKEx wishes to thank Mr Wong for his valuable contributions to the company, particularly in building HKEx’s IT capabilities and implementing its strategic IT roadmap.
Appointments in the Market Development Division (MKD)
Four executives are joining the MKD, which was created in February this year to support the evaluation and implementation of opportunities critical to the long term growth of HKEx’s markets.
Simon Cheung will join HKEx in September as a Vice President for Platform Development. Mr Cheung has 19 years of consulting experience. He has specialised in capital markets and the banking industry, and was most recently a partner of Accenture Financial Services in Hong Kong. He has had leadership roles in various projects of HKEx and entities that are now part of HKEx covering trading systems for securities and stock options, derivatives system operations and market data. He was also involved in the New Generation Trading System project for the Shanghai Stock Exchange.
Ryan Ko rejoined HKEx on 21 June as a Vice President for Platform Development. Prior to his current position, Mr Ko was a Senior Analyst of Exchange Market Operators at the Australian Securities and Investments Commission. Before moving to Australia in 2005, Mr Ko worked for eight years at the Stock Exchange and HKEx, holding various positions in the Chief Executive’s Office and the Risk Management and Listing divisions.
Stephen Ye will join HKEx as an Assistant Vice President for Mainland Development on 19 July. Mr Ye was most recently a Director of Accenture China. He had a key role in developing the New Generation Trading System project for the Shanghai Stock Exchange.
Rebecca Mayer joined HKEx on 14 June as an Assistant Vice President for Corporate Strategy. She was most recently a Vice President of the Investment Banking Division at Bank of America Merrill Lynch in Hong Kong.
The changes announced today reflect HKEx’s commitment to further strengthening its management team and its determination to capture future opportunities. Additional senior executives will be recruited for several unfilled positions in the MKD including senior positions for Platform Development.