Hong Kong Exchanges and Clearing has appointed a Beijing-born investment banker as its new chief executive, in a move seen as cementing the bourse's ties with the mainland Chinese market.
Charles Li, 48, the chairman of JPMorgan's China business, succeeds Paul Chow, who will step down in January but become an ex-officio member of the exchange's board.
Rumours of Mr Li's appointment had earlier sparked discontent from local Hong Kong brokers worried that Mr Li, who speaks Mandarin and English but not Cantonese, will be unable to communicate effectively with the market. The local brokerage community is represented in the territory's legislature by Chim Pui-chung.
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