HKEX Announces Appointment of Interim Chief Executive

Outgoing chief Charles Li retired from his role on 31 December 2020, a decision announced in September.

HKEX (Hong Kong Exchanges and Clearing) has announced the appointment of Calvin Tai as interim chief executive, effective 1 January 2021, following the retirement of Charles Li.

Li retired from his role as the chief executive of HKEX and ceased to be an ex-officio member of the Board of HKEX on 31 December 2020, the bourse operator said in a statement. The decision to step down was announced in September.

“The Board would like to express its sincere gratitude to Mr Li for his outstanding contribution and strong leadership over the past 11 years,” it added. “During Mr Li’s tenure as Chief Executive, HKEX has successfully transformed from a regional stock exchange into one of the world’s premier market infrastructure groups.”

Li has been appointed as Senior Advisor to the Board for 6 months effective 1 January 2021.

Effective 1 January 2021, Tai has been appointed as interim chief executive of HKEX and an ex-officio member of the Board, while continuing his role as co-president and chief operating officer.

Tai joined the HKEX Group in July 1998, following senior roles at ABM-Amro Bank, Royal Bank of Canada and HSBC.

He will be interim chief executive of HKEX until a new chief executive is appointed. According to Bloomberg, Tai is on a list of potential candidates that may be selected to permanently succeed Li.

The others on the list include HSBC APAC co-head Liu Che-Ning; Canada Pension Plan Investment Board CEO Mark Machin; ex-J.P. Morgan banker Philip Zhai; and HKEX head of markets Wilfred Yiu.

A blog post from Li is available here.

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