Government appoints directors to HKEX Board

     The Government has appointed Mr Stephen Yiu Kin-wah and re-appointed Mrs Margaret Leung Ko May-yee, Ms Anita Fung Yuen-mei and Mr Rafael Gil-Tienda as members of the Board of the Hong Kong Exchanges and Clearing Limited (HKEX) for a term of two years from April 26, 2017, until the end of the Annual General Meeting (AGM) of the HKEX in 2019.

     Announcing the appointments, the Financial Secretary, Mr Paul Chan, said today (March 10), "Appointments to the Board of the HKEX represent an important safeguard of the interest of the public. Mrs Leung, Ms Fung, Mr Gil-Tienda and Mr Yiu are well respected and experienced figures in the financial services sector as well as the wider business community.

     "Mr Yiu has extensive experience in auditing listed and large corporations, particularly in the banking and finance sectors. I believe that he will make invaluable contributions to the HKEX."

     The Board of the HKEX comprises a maximum of six directors elected by shareholders, the Chief Executive of the 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 Chan said.

     Noting that Mr John Harrison will retire from the HKEX Board after its AGM on April 26, Mr Chan expressed his gratitude to Mr Harrison for his dedicated services and invaluable counsel to the HKEX over the past six years. "We shall continue to count on Mr Harrison's 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 the 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 the 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 10, 2017
Issued at HKT 16:30