Hong Kong Exchanges and Clearing Limited (HKEx) welcomes the appointment by the Financial Secretary of Rodney Gordon Ward as a Director of HKEx.

Mr Ward has been the Chairman (Asia) of UBS Warburg, a global investment bank with its base in Europe since last year. He was educated at Cambridge University and attended Yale Law School before becoming a solicitor in England and Wales in 1970.

He has worked for UBS Warburg and its predecessor companies since 1972 and been active in the firms businesses in the US and Canada, Europe, the Middle East and Africa.

Before his appointment as Chairman (Asia), Mr Ward was Vice Chairman and Director, Republic Bank, New York, and Republic New York Corporation.

The appointment of Mr Ward will take effect from 1 April 2001 and last until the end of the annual general meeting of HKEx to be held in 2003.

"Mr Wards wide experience will be of great value to HKEx as it works towards the goal of strengthening HKEx as a leading securities and futures exchange in Asia," said Charles Lee, Chairman of HKEx.