Hong Kong Exchanges and Clearing Limited (HKEx) has appointed Ms Karen Lee as Head of Listing, Regulation & Risk Management. She succeeds Mr Lawrence Fok, whose appointment as Deputy Chief Operating Officer of HKEx and Chief Executive of the Stock Exchange of Hong Kong with effect from 1 August was announced in June.

Ms Lee is a Chartered Accountant in England and Wales and has over 15 years' experience in regulation and risk management in both the cash and derivatives markets.

She joined the Stock Exchange as Assistant Director, Traded Options Division in April 1995, and was promoted Executive Director of the division in December 1997.

Ms Lee's appointment will take effect from 1 August 2000.