Hong Kong Exchanges and Clearing Limited (HKEX) announced today that Cha May-Lung has been appointed as the Chairman of the Board of Directors. Cha becomes the first female to lead the organization which is one of the largest providers of trading and clearing services in the world.
Cha’s appointment comes after the Chief Executive of Hong Kong, Leung Chun-ying, gave her written approval to take up the post. Cha will take over the role from Sir Chow Chung-kong who has held the position since 2012.
Discussing her appointment, Cha stated: “HKEX is an important cornerstone of Hong Kong’s financial market, and it has a pivotal role in the future of Hong Kong’s capital market. I look forward to serving on the Board again and working with the other Directors and management to ensure HKEX meets its obligations to the public and delivers value to its shareholders.”
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New role for a familiar face
HKEX will be familiar territory to Cha who has already held a number of positions with the company. Before her recent appointment, she was Chairman of the Risk Committee and Risk Management Committee and a member of HKEX’s Remuneration Committee.
Outside of HKEX, Cha has also worked as a non-executive director for HSBC, Unilever, and the China Telecom Corporation. She has also worked for regulatory bodies such as the China Banking Regulatory Commission, where she was a member of the International Advisory Council, and the China Securities Regulatory Commission.
Commenting on the appointment, Chow Chung-kong welcomed Cha, stating that her “strong background in financial services, securities and derivatives markets and corporates will be invaluable in guiding HKEX’s future development.”