Hong Kong Exchanges and Clearing Limited (HKEx) today received the written approval of the Chief Executive of the Hong Kong Special Administrative Region (HKSAR) on the appointment of Ronald Arculli as Chairman of HKEx.

At the Board meeting yesterday (Thursday), Mr Arculli was appointed Chairman of HKEx.  Pursuant to Section 69 of the Securities and Futures Ordinance (SFO), the appointment of Mr Arculli as Chairman was subject to the written approval of the HKSAR Chief Executive. 

Mr Arculli said, “I am honoured and humbled to be HKEx’s Chairman. Hong Kong’s financial market is one of the pillars of our economy and I hope to further its growth by working closely with members of the HKEx Board and management, the regulators, and market participants.

“This post is not one that I take up lightly, and I, like every other director of HKEx, will fully comply with all provisions, rules and guidelines that govern HKEx. HKEx has clear and well-established provisions and measures ensuring effective corporate governance and I will make full disclosures and declarations.

“Indeed, I have advised the Board of HKEx that as long as I am Chairman of HKEx, I will not represent any client as a legal adviser in any matter in which HKEx is the regulator, or which is within the jurisdiction of the Securities and Futures Commission.

“I will seek as well as maximise opportunities for HKEx, while upholding the interests of the investing public and the company’s shareholders.

“I am confident that as the global financial markets continue to develop, HKEx will rise to changes and challenges that may evolve.”