- Marcus Wallenberg appointed to HKEX IAC
- Becomes fifth Council member
Hong Kong Exchanges and Clearing Limited (HKEX) today (Thursday) is pleased to announce the appointment of Marcus Wallenberg to the HKEX International Advisory Council.
The Council was established in early 2019 to provide the HKEX Board with insight and expertise from around the world, on business, economics and finance, drawing on the extensive skills and experience of its members. The Council now comprises five members, and is chaired by HKEX Chairman, Laura M Cha.
HKEX Chairman Laura M Cha said, “I am delighted Marcus is joining the HKEX International Advisory Council. His broad financial and commercial experience will complement the deep expertise we already have on the Council, and will be invaluable to us as we continue to focus on our vision to be the global markets leader in the Asian time zone.”
The other Council members are: Stuart Gulliver, former Group Chief Executive and Chairman of the Group Management Board of HSBC Holdings plc; Mary Schapiro, Vice Chair for Global Public Policy and Special Advisor to the Founder and Chairman of Bloomberg LP, and former Chair of the US Securities and Exchange Commission; and Joseph Tsai, Executive Vice Chairman of Alibaba Group, who have been appointed as founding members of the Council.
Mr Wallenberg, like other members of the Council, will be appointed for an initial term of three years, subject to renewal.
Marcus Wallenberg Biography
Since 2005 Marcus Wallenberg has been Chairman of Skandinaviska Enskilda Banken AB (SEB), a leading North European financial group with 400,000 corporate customers, and 4 million private customers. In Sweden, Estonia, Latvia and Lithuania, SEB offers universal financial services; and in Denmark, Finland, Norway, Germany and UK the bank focuses on corporate and investment banking. Mr Wallenberg is also the Chairman of Saab AB and FAM AB, and serves on the boards of Investor AB, AstraZeneca Plc, the Knut and Alice Wallenberg Foundation and Temasek Holdings Ltd. He is the former Chairman of LKAB and Electrolux AB. Mr Wallenberg held the position as Chairman and Honorary Chairman of International Chamber of Commerce (ICC) from 2006 to July 2010. From 1999 to 2005, Mr Wallenberg was President and CEO of Investor AB, having served as Executive Vice-President of the company for six years. Prior to this, he was Director of Stora Feldmühle in Düsseldorf for three years.
Mr Wallenberg began his career at Citibank in New York, followed by various positions at Deutsche Bank in Germany, S G Warburg Co Ltd in London and Citicorp in Hong Kong.
Hong Kong Exchanges and Clearing Limited (HKEX) is one of the world’s major exchange groups, and operates a range of equity, commodity, fixed income and currency markets. HKEX is the world’s leading IPO market and as Hong Kong’s only securities and derivatives exchange and sole operator of its clearing houses, it is uniquely placed to offer regional and international investors access to Asia’s most vibrant markets.
HKEX is also the global leader in metals trading, through its wholly owned subsidiaries, The London Metal Exchange (LME) and LME Clear Limited. This commodity franchise was further enhanced with the launch of Qianhai Mercantile Exchange, in China, in 2018.
HKEX launched the pioneering Shanghai-Hong Kong Stock Connect programme in 2014, further expanded with the launch of Shenzhen Connect in 2016, and the launch of Bond Connect in 2017.