News: Hong Kong Exchanges CEO Charles Li to step down

C-Suite

Hong Kong Exchanges CEO Charles Li to step down

Hong Kong Exchanges and Clearing Ltd said its chief executive Charles Li Xiaojia would step down from his role as CEO in October 2021.
Hong Kong Exchanges CEO Charles Li to step down

The Chief Executive Officer of Hong Kong Exchanges & Clearing (HKEX) Charles Li is stepping down after 10 years.

Li, 59, will continue to lead the exchange until his contract expires in October next year, or leave earlier if a replacement is found, according to a filing.

The company posted an unexpected decline in profit in the first quarter as its investment income slumped, offsetting a surge in trading. 

HKEX Chairman Laura Cha praised Li’s leadership and thanked him for giving them as much time as possible to ensure a smooth transition. "The board is confident that the succession process will be smooth and orderly and that the group is on a strong foundation".

Li grew up in the north-western Gansu province during the Cultural Revolution. He studied English literature at Xiamen University. Li has a law degree from Columbia University. He worked in law firms, including Davis Polk & Wardell, and worked for 16 years in banking starting with Merrill Lynch and later JPMorgan Chase, where he was China chairman until he joined HKEX in 2009.

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Topics: C-Suite, #Movements

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