Hong Kong Exchanges and Clearing Limited (HKEx) has appointed Ketan Patel to the new position of Group Risk Officer, effective 1 January 2015.

Mr Patel is currently Co-Head of Clearing Risk Management and the leader of the FIC* and OTC** Clearing Risk Management team.

In this new role, Mr Patel will oversee all of the HKEx Group's risk functions and head the new Risk Management Division.  The Enterprise Risk Management team that is now part of the Listing and Regulatory Affairs Division will become part of the new Risk Management Division.  Mr Patel will join HKEx Group's Management Committee, subject to Board approval.

In Clearing Risk Management, Chris Jones will continue to serve as the Chief Risk Officer of LME Clear.  He will report to Mr Patel and Trevor Spanner, Head of Global Clearing (Europe).  Felix Wang will continue as Head of Clearing Risk Management Hong Kong and will report to Mr Patel and Calvin Tai, Head of Global Clearing (Asia).  The above changes will also take effect on 1 January 2015.

HKEx is seeking a suitable person to take up Mr Patel's current roles when he moves to his new role.

"We decided the risk management functions of the Group should be pulled together under one Division to reflect their importance," said HKEx Chief Executive Charles Li.  "Ketan has a very good combination of knowledge and experience that made him an ideal candidate for this very significant new role."

Before joining HKEx, Mr Patel had previously held various risk management roles at US-based CME Group, one of the world’s largest exchange operators, from 2005 to 2011.  He has a Bachelor’s degree in management from Purdue University in the US and an MBA in economics and analytical finance from the University of Chicago’s Booth School of Business, which is also in the US.

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