Laura Cha moves a step closer to chair Hong Kong Exchanges and Clearing after board appointment
Government appoints veteran regulator to HKEX board for a two-year term from April
Laura Cha Shih May-lung has taken a step closer to becoming the first woman to chair the stock exchange operator Hong Kong Exchanges and Clearing in its 127-year history after the government on Monday appointed her to the board for a two-year term.
In reply to a query from the South China Morning Post, Cha, a member of the Executive Council and chairwoman of the Financial Services Development Council, said that she was “happy to return to the HKEX board again and was looking forward to the role” without elaborating further.
A source familiar with the situation told the Post that “the government’s appointment for Cha to join the HKEX board is the first step towards becoming the chairwoman of the exchange given her previous experience on the board and deep knowledge of the local financial market”.
Cha will succeed Chow Chung Kong, also a government-appointed director, after he steps down at the annual general meeting in April after serving six years as chairman.
The HKEX board has 13 directors – six appointed by the government and six elected by the shareholders plus chief executive Charles Li Xiaojia.