Hong Kong Exchanges and Clearing (HKEX) has extended the contract for its current chief executive by another three years.
Charles Li will remain CEO of the exchange operator for a three-year term from 16 October 2018 to 15 October 2021, according a statement published by HKEX.
He has served as chief executive of HKEX since 2010 and has overseen major developments at the exchange, including its expansion into fixed income, currency and commodities with the acquisition of the London Metal Exchange in 2012, and the launch of OTC Clear in 2013.
Li also played a major role in establishing mutual market access with Mainland China through both the Shanghai and Shenzhen Stock Connect initiatives.
Prior to joining HKEX, Li has held senior roles at major investment banks globally. He was formerly chairman of JP Morgan China and was also president of Bank of America Merrill Lynch China.
Li’s reappointment as CEO of HKEX is subject to written approval of the Securities and Futures Commission (SFC) in Hong Kong.