Hong Kong Exchanges and Clearing (HKEx) chief financial officer Karen Lee Kit-ying will retire at the end of September. She will be replaced by senior vice-president Archie Tsim.
A qualified accountant with more than 15 years of experience in corporate finance, Mr Tsim will report to HKEx chief executive Paul Chow Man-yiu and will become a member of HKEx's senior management committee. Ms Lee's take-home pay was $3.53 million last year. The exchange's announcement yesterday did not mention Mr Tsim's remuneration.
'We thank Karen for her distinguished and dedicated service to HKEx and its subsidiaries over the past 20 years,' Mr Chow said. 'She served in senior positions at the stock exchange and the futures exchange between 1983 and 1999, and played a significant role in the demutualisation of the exchanges and the listing of HKEx in 2000.'
Mr Tsim joined HKEx on October 8 last year as senior vice-president and special adviser to the head of listing.
Before joining HKEx, Mr Tsim was managing director for corporate finance and advisory, Asia-Pacific, at Hongkong and Shanghai Banking Corp. Before joining HSBC in 1997, Mr Tsim was deputy head of corporate finance at the stock exchange's listing division.
