Hong Kong Exchanges and Clearing (HKEx) has appointed Charles Li, current chairman of J.P. Morgan China as its new chief executive.
Li will succeed outgoing CEO Paul Chow from 16 January 2010, but will join the firm on 16 October this year to ensure a smooth transition. In his current role, Li is responsible for all of J.P. Morgan’s businesses in China. He has also worked for international law firms in New York and has 20 years of investment banking experience for firms in Beijing, Hong Kong and New York, including as president of Merrill Lynch in China.
“With his extensive experience and expertise in financial markets and management, Paul has been instrumental in leading HKEx’s executive management in carrying out the previous three-year strategic plan (2004-2006), and implementing the 2007-2009 strategic plan to address challenges in an increasingly competitive environment,” commented Ronald Arculli, chairman, HKEx. “He will leave HKEx in a strong position to build on the solid foundation established during his tenure.”