Hong Kong Exchanges and Clearing Limited (HKEx) announces the following appointments, all effective 1 April 2014.
Global Clearing
As part of the succession planning of HKEx and its companies (HKEx Group), Gerald Greiner, Head of Global Clearing, is appointed the Advisory Chairman for Group Clearing and Regulatory Affairs. In his new role, Mr Greiner will continue to report to HKEx’s Chief Executive Charles Li and will serve as a senior mentor to the leadership of Global Clearing and Regulatory Affairs.
Calvin Tai, Co-head of the Equities and Fixed Income and Currency (EFIC) Business, is appointed Head of Global Clearing (Asia), responsible for the Group's clearing operations in Hong Kong. In his new role, Mr Tai succeeds Mr Greiner as Chief Executive of Hong Kong Securities Clearing Company Limited and OTC Clearing Hong Kong Limited.
Trevor Spanner, the Chief Executive Officer of LME Clear Limited (LME Clear), an indirect wholly owned subsidiary of HKEx, is appointed Head of Global Clearing (Europe), responsible for the Group’s clearing operations in the UK.
Both Mr Tai and Mr Spanner report directly to HKEx's Chief Executive.
Mr Tai, 51, joined Hong Kong Futures Exchanges Limited (HKFE) in 1998 as Head of Products. Since HKFE’s merger with The Stock Exchange of Hong Kong Limited under HKEx in 2000, Mr Tai has been involved in products and markets. He was appointed Co-head of the EFIC Business in 2013 after serving as Head of Derivatives Market Development and Operations until 2010 and Head of Trading Division from 2010 to 2013. Prior to joining HKFE, Mr Tai worked in the banking industry for more than 10 years and held various management positions in ABN-Amro Bank NV, HSBC and Royal Bank of Canada. He holds a Bachelor degree from the University of Hong Kong.
Mr Spanner, 54, joined the London Metal Exchange (LME) in November 2012 as Head of Post Trade Services and became the Chief Executive Officer of LME Clear in 2013. Prior to joining LME, he had worked in EuroCCP, the European clearing subsidiary of the Depository Trust & Clearing Corporation and held senior management positions at Merrill Lynch Europe and UBS Global Operations. He has a Bachelor’s degree from the University of Kent in the UK and is a Chartered Accountant.
HKEx will announce arrangements regarding the leadership of EFIC in due course.
Regulatory Compliance
Apart from acting as the Advisory Chairman for Group Clearing and Regulatory Affairs, Mr Greiner is also appointed the Chief Compliance Officer (CCO). In this new role as CCO, Mr Greiner reports functionally to the Chief Regulatory Officer, David Graham.
Mr Greiner, 57, was appointed HKEx’s Head of Global Clearing in 2013. He was Deputy Chief Operating Officer and Head of Exchange Division from 2004 to 2007, and Chief Operating Officer from 2007 to 2013. Prior to joining HKEx, Mr Greiner was a senior director of the Supervision of Markets Division of the Securities and Futures Commission from 1989 to 2004 and held various senior executive positions at the US Securities and Exchange Commission from 1984 to 1989. He holds a Bachelor degree from Allegheny College and a Juris Doctor degree from the University of Toledo College of Law, both in the US.
The new HKEx Group organisation chart is attached.
Ends