Journal editor finds safe harbour close to Home after jumping ship It is not often that an editor jumps ship right after a re-launch but rumours have been swirling for weeks that Reginald Chua, editor of the Asian Wall Street Journal for the past eight years was on his way out. Lai See's enquiries about Mr Chua's future at the newly minted Wall Street Journal Asia had met with furious denials. However, with launch parties safely out of the way it has emerged that Mr Chua is heading for the exit. Happily, he appears to have gotten a promotion and is moving on to become assistant managing editor of Wall Street Journal-proper later this year. Mr Chua's successor has not been named but since his arrival in 2003 many have come to see Asia-based John Bussey, who remains deputy managing editor of the US operation, as the real power at the paper. With the Financial Times and International Herald Tribune nibbling away at the Journal's traditional regional dominance among international papers, whoever steps into the hot seat looks to have their work cut out. boci chief seeks mountain to climb After five years, BOC International chief executive Li Shan has called it quits. He is starting a private equity firm named San Shan (Three Mountains) Co. In his farewell letter, Mr Li waxed to staff about his plans to join two other international financiers in a venture to bring capital to China - a plan which he dubs 'Three Hills and Five Mountains'. 'In the age of the open economy, I hope China can walk a fine line between localisation and globalisation in its finance and this is my objective since I returned to China,' he said. The ex-Goldman Sachs banker, who helped develop BOCI as an investment banking force, certainly seems to have been at the Kool-Aid, sounding suspiciously like Mother Superior from The Sound of Music. 'Climb every mountain, ford every stream. Follow every rainbow, till you find your dream.' We're drinking whatever he's drinking. oscar awards himself retirement Notwithstanding the impending bonus payment season it seems that job hopping is in the air. Another market veteran, Oscar Wong Sai-hung, the chief executive of BOCI-Prudential, is set to leave the firm at the end of the year after more than five years of service. The media-friendly executive and a director of Hong Kong Exchanges and Clearing, unfortunately appears not to have been drinking from BOCI's Kool-Aid cabinet but tells us he has 'no regrets' as he has achieved the goals he set for himself. After 30 years in fund management, he is heading for a well-earned break. taking the option that pays best Share options gains contributed to most of the remuneration at tycoon Cheng Yu-tung's NWS Holdings last year. Chairman Henry Cheng Kar-shun made $7.58 million, after he exercised one million share options for as little as $3.725 compared with their current share price of $11.75. But neither Mr Cheng, nor his other directors sold shares last year. The firm recorded almost $30 million in share option benefits to directors. The largest salary increase came from Tsang Yam-pui, the former Commissioner of Police and brother of Chief Executive Donald Tsang Yam-kuen. Mr Tsang made $3.32 million (without option benefits) last year, compared with $180,000 in 2003. It looks to be good times all round in the house of the once-humble Tsangs. soft touch impresses top form Shareholder activist David Webb is everywhere. Yesterday he took on main board-listed bra maker Top Form International, pressing its management to reduce its general share issuing mandate and move to quarterly reporting. 'Mr Webb gives us good advice,' said Top Form chairman Willie Fung Wai-yiu. 'Obviously he is a supporter of transparency.' Lai See is all in favour of the naked truth and wonders whether Top Form will embrace the spirit of the age and perhaps add a little more lace to its product collection.