Hong Kong Names Julia Leung as New SFC Chief

Julia Leung will become CEO of the SFC on 1 January following Ashley Alder’s departure to become the UK FCA’s new chair.  

Hong Kong’s government has formally announced the appointment of Ms Julia Leung to the post of Chief Executive Officer of the SFC (Securities and Futures Commission) for a three-year term, effective 1 January 2023.

Ms Leung, currently the Deputy Chief Executive Officer and an Executive Director of the Intermediaries Division of the SFC, will succeed Ashley Alder following his departure after an 11-year tenure, which was announced in July. Alder will become the new chair of the UK FCA (Financial Conduct Authority).

Announcing Leung’s appointment on Thursday (15 December), Financial Secretary Paul Chan said:

“Ms Leung has profound knowledge of and extensive experience in the operation and regulation of the securities and futures markets in Hong Kong and the operation of the SFC, deep understanding of the financial markets in the Mainland and overseas, good standing in financial arenas, and the vision for enhancing Hong Kong as an international financial centre.”

“We have every confidence in Ms Leung’s leadership of the SFC and promotion of the regulation and development of Hong Kong’s securities and futures markets.”

SFC Chairman Tim Lui said in a statement that Ms Leung is “well respected by her peers, colleagues and stakeholders alike for her vision and insights, regulatory knowledge and professionalism, and has proven track records in managing highly-complex regulatory issues and pioneering regulatory initiatives.”

“The SFC will benefit from [Ms Leung’s] leadership in advancing its strategic goals and fulfilling the mandate of safeguarding investors, maintaining market integrity and quality as well as strengthening the competitiveness of Hong Kong’s financial markets,” Lui added.

The SFC will strive to ensure that Hong Kong’s regulatory framework and market infrastructure are fit for purpose so that Hong Kong would thrive as the “most important international financial hub with ever-increasing connectivity with markets on the Mainland and the rest of the world,” Ms Leung said.

Ms Leung worked at the HKMA (Hong Kong Monetary Authority) from 1994 to 2008; and was the Under Secretary for Financial Services and the Treasury from 2008 to 2013.

She joined the SFC in March 2015, appointed as Executive Director of the Investment Products Division and then the Intermediaries Division. In March 2018, she was appointed as the Deputy CEO.

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