Hong Kong Exchanges and Clearing Limited (HKEx) has appointed Stewart Shing to be head of its clearing business unit, and chief executive of Hong Kong Securities Clearing Company Limited (HKSCC). Mr Shing will take up his new appointment on 15 December 2003.

Mr Shing has more than 30 years of securities operations and business management experience. He has worked in several major international and local financial institutions where he has been responsible for planning and development, securities operations, system development and auditing. Mr Shing joined South China Brokerage Company, Limited in 2001 and is currently its executive director and chief executive.

Mr Shing became chief executive of HKSCC in October 1996. He subsequently became the first head of HKExs clearing business unit and served in both positions until October 2000. Mr Shing joined HKSCC in April 1991 as director of planning and development, responsible for the development of CCASS, the Central Clearing and Settlement System, and was appointed deputy chief executive in November 1991.

Mr Shing, who started his career in 1970, working in audit, is a fellow member of the Hong Kong Society of Accountants and has served as a member of working groups for various regulatory bodies and stockbroking associations in Hong Kong. Since September 2002, Mr Shing has been representing South China Brokerage Company, Limited in his role as the chairman of The Hong Kong Association of Online Brokers. He was also a founding member of the Asia-Pacific Central Securities Depository Group and was admitted to the Board of the International Securities Services Association in 1999.

Mr Shing holds a Master of Business Administration degree from the University of New South Wales, Australia.