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The Financial Secretary, Mr John C Tsang, has appointed Mrs Margaret Leung Ko May-yee as a member of the Board of Hong Kong Exchanges and Clearing Limited (HKEx), and re-appointed Mr John Harrison, Mr Stephen Hui Chiu-chung and Mr Michael Lee Tze-hau as members of the HKEx Board for a term of two years from April 24, 2013, until the end of the Annual General Meeting (AGM) of HKEx in 2015.
Announcing the re-appointments and new appointment, Mr Tsang said, "Appointments to the Board of the HKEx represent an important safeguard of the interest of the public. Mrs Leung, Mr Harrison, Mr Hui and Mr Lee are well-respected and experienced figures in the financial services sector as well as the wider business community.
"Mrs Leung was the Vice-Chairman and Chief Executive of Hang Seng Bank Limited. We are confident that her strong expertise and experience in the financial services sector and excellent connections in the business community will contribute to HKEx's strategies to expand its sources of listing and promote Hong Kong as the premier capital formation centre."
The Board of HKEx comprises a maximum of six directors elected by shareholders, the Chief Executive of HKEx, and a maximum of six directors appointed by the Financial Secretary.
The other incumbent directors appointed by the Financial Secretary are Mr Chow Chung-kong and Mr Timothy Freshwater.
"We trust that all the directors will work closely together to further the development of Hong Kong as a capital raising and risk management platform in the best interest of the public at large," Mr Tsang said.
"We are most grateful to Mr Ronald Arculli, who will retire from the Board of HKEx after its AGM on April 24, for his dedicated services and invaluable contribution to HKEx in the past seven years. We shall continue to count on his support in furthering the development of the securities and futures market of Hong Kong," Mr Tsang added.
Mr Arculli was the Chairman of HKEx from 2006 to 2012 and has continued to serve as a Board member since 2012. During his service, HKEx rolled out many new market development initiatives to enhance its competitiveness and strengthen Hong Kong's position as a major capital formation centre serving China and the world.
The re-appointments and appointment are made under the Securities and Futures Ordinance. The Ordinance, together with HKEx's Articles of Association, empowers the Financial Secretary to appoint not more than six persons to be members of the Board of Directors of HKEx where the Financial Secretary is satisfied that it is appropriate to do so in the interest of the investing public or in the public interest.
Ends/Tuesday, April 2, 2013
Issued at HKT 16:47
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