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The Chief Executive has approved the appointment of Mr Ashley Alder as the new Chief Executive Officer (CEO) of the Securities and Futures Commission (SFC). The appointment was made under the Securities and Futures Ordinance (SFO) (Cap. 571) for a term of three years from October 1, 2011, to September 30, 2014.
Mr Alder was selected through a global search that commenced in February this year by a selection panel chaired by the Financial Secretary. Mr Alder is a highly accomplished lawyer who has been living in Hong Kong for over 20 years. He is a Partner of an international law firm, specialising in areas of capital markets, mergers and acquisitions as well as regulation and compliance. He worked for the SFC between 2001 and 2004 as its Executive Director of Corporate Finance.
Speaking on the appointment today (August 1), the Financial Secretary, Mr John C Tsang, said, "Mr Alder has extensive experience in the legal field specialising in corporate finance. He has also worked in the SFC before. We are confident that under his leadership, the SFC will continue to be an effective and respected financial regulator, contributing to the enhancement of Hong Kong's position as a global financial centre."
Mr Tsang added, "I would like to take this opportunity to thank members of the panel who have contributed to the successful completion of the selection exercise." Members of the panel are Mr Chan Kam-lam, Dr Moses Cheng, Dr Eddy Fong, Mr Lawrence Lee, Mr Carlson Tong and the Secretary for Financial Services and the Treasury, Professor K C Chan.
Profile of Mr Ashley Alder
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Mr Alder is aged 52. He graduated from London University with a Bachelor of Laws degree in 1982, and obtained his Master of Laws degree from Cambridge University in 1983. He first joined Herbert Smith in 1984 and was made a partner in 1994. He worked for the SFC as its Executive Director (Corporate Finance) from 2001 to 2004. He rejoined Herbert Smith in November 2004. He will assume the position of CEO of the SFC on October 1, 2011.
Ends/Monday, August 1, 2011
Issued at HKT 17:00
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