Stock Exchange of Hong Kong chairman Lee Hon-chiu has become the first head of an Asian bourse to be elected president of the International Federation of Stock Exchanges (FIBV).
Mr Lee was elected at the 38th annual general assembly of the FIBV in Kuala Lumpur on Monday and will start his two-year term of office on January 1.
Sources said his election showed the international community had recognised the important role played by Hong Kong in international investment markets, and that the financial turmoil in Asia had not shaken their confidence in the SAR.
It also showed other FIBV members had recognised the contributions of the Hong Kong stock exchange in the organisation, sources said.
Mr Lee will set the goals and working mission of the organisation for the next two years in consultation with the FIBV secretary-general.
Former exchange chairman Edgar Cheng Wai-kin was vice-president of the FIBV last year.
Former exchange chief executive Paul Chow Man-yiu has taken charge of a number of FIBV working committees to study self-regulation, corporate governance and ways for securities markets to help small and medium-sized companies raise funds.
