HK SFC picks Wheatley successor
Hong Kong's financial markets regulator the Securities and Futures Commission (SFC) has appointed Ashley Alder to the post of chief executive officer for a three-year term, effective 1 October 2011.
Alder is currently a senior partner at international law firm Herbert Smith and leads its Asian division, specialising in capital markets, mergers and acquisitions, regulation and compliance. He has also had one previous stint at the SFC, serving as executive director of the corporate finance division from 2001 to 2004.
“Given Mr Alder's extensive knowledge and experience in the Hong Kong financial market and at the SFC, he will be in the best position to ensure that the SFC continues to fulfil its statutory objectives to safeguard investors, enhance market transparency and help develop Hong Kong as an international financial centre,” said Eddy Fong, SFC chairman.
Alder will replace outgoing CEO Martin Wheatley, who will become head of the UK's Consumer Protection and Markets Authority, one of two new regulatory bodies that will replace the Financial Services Authority (FSA) at the end of 2012. Prior to the SFC, Wheatley served as deputy CEO of the London Stock Exchange and was also chairman of FTSE International and a part of the listing authority advisory committee for the FSA.