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The Financial Secretary has re-appointed Mr Ronald Arculli, Mrs Laura Cha and Mr Moses Cheng as members of the Board of the Hong Kong Exchanges and Clearing Limited (HKEx) for a further term of two years from today (April 24).
Announcing the re-appointments, the Financial Secretary, Mr John C Tsang said, ¡°Appointments to the Board of HKEx are an important safeguard of the interest of the public. Mr Arculli, Mrs Cha and Mr Cheng are well-respected and prominent figures in the financial services sector.
¡°We are pleased that they have accepted the re-appointments and demonstrated their commitment to continue to serve the public¡±.
Mr Arculli is the Senior Partner of Arculli Fong and Ng. Mr Arculli was a member of the Securities and Futures Commission Advisory Committee from 1989 to 1993, and a non-executive director of the Securities and Futures Commission from 1997 to 2000.
Mrs Cha is the Deputy Chairman of the Hong Kong and Shanghai Banking Corporation Limited. She was the Vice-Chairman of the China Securities Regulatory Commission (CSRC) from 2001 to 2004. Prior to her appointment to CSRC, she was the Deputy Chairman of the Securities and Futures Commission from 1994 to 2001.
Mr Cheng is the Senior Partner of P C Woo & Co. He was the Chairman of Listing Committee of the Stock Exchange of Hong Kong in 2005-2006. He has served on the Financial Reporting Council since 2006.
The Board of HKEx comprises a maximum of six directors elected by shareholders, the Chief Executive of HKEx, and a maximum of six directors appointed by the Financial Secretary.
The other incumbent directors appointed by the Financial Secretary are Messrs Marvin Cheung, Henry Fan and Fong Hup.
¡°We trust that all the directors will work closely together in the best interest of both HKEx and the public as a whole,¡± Mr Tsang said.
The appointments are made under the Securities and Futures Ordinance. The ordinance, together with HKEx¡¯s Articles of Association, empowers the Financial Secretary to appoint not more than six people to be members of the board of directors of HKEx where the Financial Secretary is satisfied that it is appropriate to do so in the interest of the investing public or in the public interest.
Ends/Thursday, April 24, 2008
Issued at HKT 19:31
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