Hong Kong Exchanges and Clearing's board of directors approved a senior management reshuffle yesterday that will see former deputy chief operating officer Lawrence Fok Kwong-man cut off from daily market management.
An exchange source said Mr Fok would be replaced by Patrick Conroy as chief executive of the stock exchange, the HKEx subsidiary that runs Hong Kong's stock market.
The source said the change was necessary because Mr Fok had been appointed head of the business development and investor services division.
Mr Conroy remains as chief operating officer of HKEx, but his position as chief executive of the futures exchange will be filled by his deputy, Gerald Greiner.
Mr Greiner, a former Securities and Futures Commission colleague of Mr Conroy, quit the SFC last month to succeed Mr Fok as HKEx's deputy chief operating officer. Before joining the exchange, he was senior director of the commission's market supervision division.
The reshuffle will need SFC approval before an announcement can be made.