Government appoints directors to HKEx Board

     The Financial Secretary, Mr John C Tsang, has appointed Ms Anita Fung Yuen-mei and Mr Rafael Gil-Tienda and re-appointed Mr John Harrison and Mrs Margaret Leung Ko May-yee as members of the Board of Hong Kong Exchanges and Clearing Limited (HKEx) for a term of two years from April 29, 2015, until the end of the Annual General Meeting (AGM) of HKEx in 2017.

     Announcing the re-appointments and new appointments, Mr Tsang said today (March 20), "Appointments to the Board of the HKEx represent an important safeguard of the interest of the public. Ms Fung, Mr Gil-Tienda, Mr Harrison and Mrs Leung are well-respected and experienced figures in the financial services sector as well as the wider business community.

     "Ms Fung has rich experience in the banking industry and has been actively promoting the development of financial markets of Hong Kong. Her strong expertise and experience in the financial services sector and excellent connections with the local and Mainland business communities will contribute to HKEx's strategies to deepen its financial co-operation with the Mainland and promote Hong Kong as a premier capital formation centre.

     "Mr Gil-Tienda is the Chairman, Asia Pacific, of Oliver Wyman, a global management consulting firm. His deep expertise in financial services, risk management and business strategy will contribute to HKEx's risk management policies and strategies to expand its source of listing."

     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.

     Noting that Mr Stephen Hui Chiu-chung and Mr Michael Lee Tze-hau will retire from the HKEx Board after its AGM on April 29, Mr Tsang expressed his gratitude to the two outgoing members for their dedicated services and invaluable contributions to HKEx in the past six years. "We shall continue to count on their support in furthering the development of the securities and futures market of Hong Kong," he added.

     The re-appointments and appointments 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/Friday, March 20, 2015
Issued at HKT 16:39