Hong Kong Exchanges and Clearing Limited (HKEx) has appointed Walter Reisch to be head of its Clearing Business Unit, and chief executive of Hong Kong Securities Clearing Company Limited.

Mr Reisch has more than 20 years' experience as a consultant and line manager in the development of strategies, infrastructure and IT solutions for clearing houses and exchange operations in a number of locations, including Sydney, London, New York, Moscow and Tokyo.

In Hong Kong, Mr Reisch has worked on a number of projects for HKEx, including the migration to the HKATS electronic trading platform for the Derivatives Business Unit and integration of the trading platforms for derivatives. He has also worked on an equity options risk management system implementation for the Cash Business Unit.

Mr Reisch will take up his new appointment at HKEx in the second week of January 2001.