Hong Kong Exchanges and Clearing Limited (HKEx) has won The Asian Banker Achievement Award for Markets and Exchanges, and Paul Chow, former HKEx chief executive, has received The Asian Banker Leadership Achievement Award for Markets and Exchanges.
The award presentation ceremony was held last week in Singapore. HKEx was represented by Chairman Ronald Arculli, who accepted the Exchange of the Year Award at the ceremony. He was joined by Mr Chow, who also received his award at the ceremony.
Naming HKEx the Exchange of the Year, The Asian Banker, a provider of business intelligence in the financial services industry in the Asia-Pacific and Middle East regions, said HKEx outperformed its peers in many areas in 2009. Specifically, The Asian Banker said HKEx maintained high efficiency and profitability, and had healthy product growth. The organisation, which publishes The Asian Banker Journal, added a well defined 2007-2009 Strategic Plan served HKEx very well during the financial crisis period. It also noted that HKEx’s net profit margin was higher than any other major exchange operator in the region.
Mr Chow, HKEx’s chief executive between May 2003 and January 2010, demonstrated strong leadership and made significant contributions to his institution as well as the markets and exchanges industry, according to The Asian Banker. After Mr Chow became the chief executive of HKEx in 2003, one of the most important tasks was to formulate a strategic plan for 2004-2006 to guide the company’s future development, The Asian Banker said. The 2004-2006 plan, comprised of elements such as consolidation, market quality and an expanded relationship with Mainland China, helped HKEx build a strong foundation for future success which was further strengthened by its 2007-2009 strategic plan, The Asian Banker added.
The Asian Banker Exchange of the Year Award is based on five inter-related criteria including a superior financial performance, operational efficiency, product/system enhancement, innovation and competitive advantage.
The Asian Banker Leadership Achievement Award for Mr Chow is based on a superior financial performance, strong commitment to investors and financial market integrity, strong governance structure at board and management levels under the leadership of a chairman or CEO, the ability to execute on strategy and respond to changes in the marketplace, and leading towards a stable and long-term commitment to shareholders.
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