The Hong Kong Exchange and Clearing Limited (HKEX) announced that Calvin Tai Chi Kin has replaced Charles Li Xiaojia as its new interim Chief Executive, effective from 1st January 2021.
According to a press release, Calvin Tai Chi Kin, a financial industry veteran, has been named KHEX’s Interim Chief Executive. He will take over Charles Li Xiaojia’s responsibilities and continue his role as Co-President and Chief Operating Officer of HKEX.
Calvin brings a wealth of experience of more than thirty-five years to his new position. In his new role, Calvin has taken on the following additional responsibilities. He will serve as a Member of the Board Executive Committee and the Corporate Social Responsibility Committee at the Stock Exchange of Hong Kong Limited (SEHK). Moreover, he will be an ex-officio member of the Listing Committee of the Main Board and a GEM Listing Policy Panel Member.
Calvin’s current roles include Chief Executive of Hong Kong Futures Exchange Limited (‘HKFE’) and SEHK, Chairman of HKFE Clearing Corporation Limited, Chief Executive for Hong Kong Securities Clearing Company Limited and a member of its Risk Management Committee as well as Chief Executive and Chairman of the User Committee at OTC Clearing Hong Kong Limited. Additionally, he has served as Director for China Exchanges Services Company Limited.
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Calvin’s Vocational Background
Calvin has fulfilled a number of roles at HKEX Group and has successfully progressed through its ranks since July 1998. Prior to the existing posts, Calvin successfully triumphed in many roles at HKEX. This list includes Co-Chief Operating Officer 2017-18, Head of Clearing 2016-19, Head of Global Clearing of Asia 2014-15, Co-Head of Equities and FIC Business 2013-14, Head of Trading Division back in 2010-13, and Head of Derivatives Market Development and Operations 2003-10.
Before this Calvin was Head of Products at HKFE from 1998 for two years. Earlier on in 1995, he served as senior vice president of treasury division at ABN-Amro Bank NV for three years. At the Royal Bank of Canada, he was the Head of Treasury. He also held various positions in general banking and treasury at The Hongkong and Shanghai Banking Corporation Limited.
The Retirement of Charles Li Xiaojia
Charles has retired from his role as Chief Executive and ceased to be an ex-officio member of the HKEX Board. He has confirmed that he has no disagreement with the Board. Further, he is unaware of any matters relating to his retirement that its shareholders should be notified of. The Board wishes to express its sincere gratitude for his outstanding contribution and strong leadership over the past eleven years. During Charles’ tenure as Chief Executive, HKEX has successfully transformed from a regional stock exchange into one of the world’s premier market infrastructure groups.
Furthermore, HKEX has appointed Charles as Senior Advisor to the Board for six months, effective 1 January 2021.