HKEX loses 2 sustainability veterans, adding to turnover
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THE Hong Kong stock exchange lost 2 heads leading its green and sustainability initiatives in recent weeks, adding to the bourse’s turnover as Hong Kong sees a drain in financial talent.
Head of Group Strategy Till Rosar and co-head of Emerging Business Development Julien Martin are leaving Hong Kong Exchanges & Clearing to pursue interests outside the company, the company said in an emailed statement. Glenda So, co-head of markets, is leading HKEX’s sustainability and climate-related efforts, a spokesperson said.
HKEX has been striving to turn the city into a sustainability-focused financial hub, competing against Singapore. Chief executive officer Nicolas Aguzin said in February that the company is experiencing higher staff turnover due to a growing talent war and Covid restrictions, while the city’s market and banking regulators said they are facing trouble retaining staff.
In total HKEX has seen 3 ESG-related executive departures this year. In January, it lost Grace Hui, who headed the company’s green and sustainable finance business.
Rosar’s replacement has yet to be announced. Daniel Sonder, former chief financial officer of Sao Paulo-based stock exchange B3, remains co-head of emerging business development.
Before joining the bourse’s emerging business last year, Martin led its fixed income and currency development for 6 years, helping create the Bond Connect in 2017.
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The Hong Kong stock exchange has been working with financial institutions including HSBC and Standard Chartered to create a carbon market. HKEX said it’s still focusing on sustainability efforts, citing its carbon initiative as a “key example of that momentum”.
Despite talent loss, the HKEX also brought on 11 new managing director hires over the last year to beef up its leadership pool, the spokesperson added. BLOOMBERG
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