Hong Kong Exchanges and Clearing Limited (HKEx) has undergone a series of changes to its management structure ahead of the launch of its new series of initiatives in 2016 and 2018, according to a HKEx statement.
HKEx will roll out its first new unit, tapped Platform Development, which will see Trevor Spanner, the Chief Executive of LME Clear, the London Metal Exchange’s (LME) clearing house, and Head of Global Clearing (Europe), relocating from London to Hong Kong as of January 2016. In this capacity he will assume the role of Chief Operating Officer (COO) of HKEx, where he will manage and lead its new Platform Development Division.
Moreover, the new platform development division will help oversee and steer the group’s integral platform projects, which presently includes Next Generation trading, clearing platforms, and various strategic connectivity projects.
HKEx’s current COO, Henry Ingrouille, will also be relinquishing his position to pursue interests outside of HKEx, however he will remain with the group until the end of March 2016 in order to help manage a smooth transition.
In addition to the platform development division, HKEx will also see the formation of both the Clearing and Markets Division, headed by Calvin Tai and Roger Lee respectively. These two units will be forged as part of an initial effort to consolidate all Hong Kong clearing and trading businesses together to help better foster synergy over time.
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Mr. Tai currently serves as the Head of Global Clearing – Asia, while Mr. Lee works as the Global Markets Division’s Head of Market Operations. The new Clearing Division will also include the components of Hong Kong clearing businesses and clearing risk management. Alternatively, the Markets Division is slated to encompass cash trading, derivatives trading, market data, and market surveillance and monitoring functions.
Finally, HKEx is poised to unveil a new Market Development Division, which will be co-headed by Romnesh Lamba, who currently is leading the group’s Global Markets – in addition, Li Gang, who presently co-heads the Mainland Division will also co-head this new unit.
According to HKEx Chief Executive Charles Li, in a recent statement on the changes, “We have ambitious plans for the next three years that will require us to have the right people working together under a structure designed to best suit the Group’s development plans at this time,”
“We believe the changes we are announcing today position our businesses in Hong Kong and London (the HKEx Group) optimally to take advantage of the many opportunities we see over the next few years,” he added.
This is the first announced change to its executive personnel since last month, when HKEx appointed Brian Roberts as its newest Senior Vice President (SVP) in its Product Development Department. In his new role as the SVP of Product Development at HKEx, Mr. Roberts has since been tasked with the group’s Exchange Traded Funds (ETFs) business – he is reporting to Rebecca Brosnan, HKEx’s Head of Product Development, and is currently based out of Hong Kong.