You are here

HKEx extends CEO Charles Li's contract by 3 years

[HONG KONG] Hong Kong Exchanges and Clearing Ltd renewed the contract of Chief Executive Charles Li for a further three years, it said in a filing on Wednesday.

Mr Li's contract will now end on Oct 15, 2018 and his pay remains unchanged at HK$9 million a year, the exchange said.

Mr Li has overseen a 66 per cent increase in the exchange operator's stock price this year, as increased trading volumes from the stock connect programme with Shanghai and a fee increase on the HKEx-owned London Metal Exchange boosted profits.

Former JPMorgan banker Li, whose Chinese name is Li Xiaojia, joined HKEx in 2009 and set out a strategy of tying the exchange's fortunes more closely to mainland China.

The next step in his strategy of mutual market access with China is to establish a commodities trading link similar to the Shanghai stock connect programme, Mr Li said in May.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes