Appointment and Dismissal of the Chairman of the Hong Kong Stock Exchange
April 24, 2024
Appointment and Dismissal of the Chairman of the Hong Kong Stock Exchange
On April 24, 2024, Hong Kong Exchanges and Clearing Limited (HKEX) publicly announced a leadership transition. Ms. Laura Cha, the current chairperson, is concluding her six-year tenure in keeping with tradition. Succeeding her is Mr. Carlson Tong, the former Chairman of the Securities and Futures Commission (SFC). The financial and securities industry in Hong Kong warmly welcomes this change and holds high hopes that Mr. Tong will elevate Hong Kong's financial market to new heights.
Throughout her career, Ms. Cha has served in several prestigious roles including Chairperson of HKEX, a member of the Hong Kong-U.S. Business Council, and an independent director of Ant Group. She has also been a senior international advisor to the Swedish Asset Management Foundation and a member of Sotheby's International Advisory Board. In 2001, she made history by being appointed as the first overseas vice-ministerial official in China, serving as Vice Chairman of the China Securities Regulatory Commission under the State Council of the People's Republic of China. Her impact extends to the Executive Council of the Hong Kong Special Administrative Region (HKSAR), the Hong Kong Financial Services Development Council, and the University Grants Committee of the HKSAR, where she served as Chairwoman from 2007 to 2011.
Ms. Cha's remarkable contributions have earned her numerous accolades, including the Silver Bauhinia Star in 2001, the Gold Bauhinia Star in 2009, and the Grand Bauhinia Medal in 2017, all awarded by the HKSAR Government for her exceptional public service. Her dedication and leadership have significantly shaped the development of Hong Kong's financial market.
Mr. Carlson Tong, Ms. Cha's successor, brings a wealth of regulatory experience and exceptional expertise in the financial sector. Appointed as a director of HKEX by the government earlier this year, Mr. Tong has been leading efforts to enhance stock market liquidity since last August. His previous roles include Chairman of the HKEX Listing Committee from 2006 to 2008, a non-executive director of the SFC in 2011, and then its Chairman until 2018. In 2020, he joined the Cathay Pacific board as an observer. Mr. Tong is recognized for his visionary leadership and his ability to foster financial innovation and market openness, steering HKEX towards growth and innovation in the financial industry.
This leadership transition is expected to infuse HKEX with renewed energy and opportunities, revitalizing Hong Kong's financial sector. The industry acknowledges Ms. Cha's invaluable contributions to the prosperity and development of both HKEX and the broader Hong Kong market over the past six years. As Mr. Carlson Tong assumes his new role, his extensive experience in financial services, securities and derivatives markets, and corporate management is anticipated to further advance HKEX's future, enhancing the success and growth of Hong Kong's financial industry and ushering in a new era for the securities sector.
For inquiries, please contact pr@hksfpa.org
Mofiz Chan
Chairman
Hong Kong Securities and Futures Professionals Association