.jpg)
The Securities and Futures Commission (SFC) announced today that its Chief Executive Officer, Mr Ashley Alder, will be leaving the SFC to take up a new appointment in the United Kingdom as Chair of the Financial Conduct Authority in January 2023.
Since becoming the SFC’s Chief Executive Officer in October 2011, Mr Alder has steered the SFC in pursuing a set of highly-focused and innovative regulatory policy as well as operational reforms to tackle risks and misconduct, uphold the quality and integrity of Hong Kong’s financial markets and maintain the confidence of investors.
His emphasis on strengthening Hong Kong’s role as a gateway for global firms and investors to the Mainland has resulted in a collaborative relationship between the SFC and the China Securities Regulatory Commission as the cross-boundary mutual market access schemes continue to expand.
Mr Alder has also raised the status of Hong Kong as an international financial centre and its influence in setting global regulatory standards through his chairmanship of the International Organization of Securities Commissions (IOSCO) and participation in various international fora. He has been a strong advocate of sustainable financial initiatives both locally and internationally as the effort to transition the financial system to address the threat of climate change gains urgency.
The SFC’s chairman Mr Tim Lui said: “On behalf of the board of the SFC, I wish to express my deep appreciation for Ashley’s leadership and his invaluable contributions throughout his 11-year tenure. Ashley has been steadfast in his commitment and resolve in building a first-class regulatory framework with the highest standards to address the challenges and opportunities that Hong Kong face locally, regionally and globally. He will be remembered for forging the SFC as a determined, effective and independent market regulator well respected by its local and international peers.”
“Equally important, Ashley’s influential role in the IOSCO and other international fora not only helps Hong Kong earn the recognition as a world-class regulator but also cements its position as a leading global financial centre. It has been a great pleasure working with Ashley and we all wish him all the best in his new endeavour,” Mr Lui added.
Mr Alder said: “I owe a debt of gratitude to all who have contributed to the evolution of the SFC into an organisation which is acknowledged globally as one of a handful of world-class market regulators. I am especially grateful to the SFC’s past and current board members and all the SFC staff who deliver first-rate outcomes throughout our day-to-day work.”
“The policies and reforms we have put in place are now firmly embedded and institutionalised and my successor will inherit a solid and effective regulatory framework which underpins Hong Kong’s success as an international financial centre,” Mr Alder added.
A recruitment exercise for Mr Alder’s successor will soon commence.
Note:
- Mr Alder joined the SFC on 1 October 2011 and his current appointment ends on 30 September 2023.
