- Wilfred Yiu to retire at the end of December after distinguished career in financial services and nearly six years at HKEX Group
- Vanessa Lau to become sole HKEX COO
- Glenda So to become Head of Platform and Market Structure Development
- Xu Liang to join HKEX as Head of Operations on 10 February 2025
Hong Kong Exchanges and Clearing Limited (HKEX) today (Friday) announced a number of senior management changes, which will take effect from 1 January 2025, unless otherwise stated.
Wilfred Yiu, Deputy Chief Executive Officer, Co-Chief Operating Officer and Co-Head of Markets, will retire at the end of 2024 following a distinguished career in the financial services industry.
Mr Yiu will also retire as Chief Executive of The Stock Exchange of Hong Kong Limited (SEHK) and Hong Kong Futures Exchange Limited (HKFE).
HKEX Chief Executive Officer, Bonnie Y Chan, said: “Wilfred has been a highly-valued member of our senior leadership team, and his many contributions to the Group have supported the continued resilience and attractiveness of Hong Kong’s markets. Since joining HKEX in April 2019, Wilfred oversaw the successful implementation of a number of key microstructure enhancements, including the Connect programme expansion, ETF reforms, launch of Derivatives Holiday Trading and the Dual Counter Model, and most recently, the introduction of Severe Weather Trading. He also led the expansion of our product ecosystem, adding diversity and breadth to our marketplace.”
“I’d like to thank Wilfred for his support, wise counsel, and more importantly his friendship, over the last few years. I fully respect his decision to retire, and I want to wish him some very well-deserved time off with his family.”
HKEX Deputy Chief Executive Officer, Co-Chief Operating Officer, and Co-Head of Markets, Wilfred Yiu, said: “Serving HKEX and the Hong Kong capital markets has been a privilege and a key highlight of my career, and I’d like to thank all my colleagues, partners and stakeholders who have supported me on our journey. We have achieved much as a team over the last few years, progressing our markets through enhancements that greatly boosted the competitiveness of the Hong Kong IFC. I wish all my HKEX colleagues the very best – guided by the capable leadership of Bonnie and her management team – as they write the next chapter of the Hong Kong financial markets story.”
Following Mr Yiu’s retirement, Vanessa Lau will become the sole HKEX Chief Operating Officer, in addition to her existing role as Group Chief Financial Officer. Ms Lau will also become Chief Executive of SEHK and HKFE. These appointments have been approved by the Securities and Futures Commission.
With Ms Lau’s expanded remit, HKEX is pleased to announce that Xu Liang will join the Group as Managing Director, Head of Operations. Mr Xu joins HKEX on 10 February 2025 and will report to Ms Lau in her COO capacity.
In this newly-created role, Mr Xu will direct the Group’s Hong Kong market operations, overseeing the trading, post-trade, and market surveillance and monitoring functions, ensuring the continued robustness, efficiency, and reliability of HKEX’s markets.
HKEX is also pleased to announce that Glenda So, currently Co-Head of Markets, will become Head of Platform and Market Structure Development, where she will lead a new division focused on supporting the Group’s delivery of new and innovative platforms and initiatives that will further enhance the diversity and efficiency of its markets.
Reporting to Group Chief Information Officer, Richard Leung, Ms So and her team will oversee new and existing projects that explore adjacencies, and that address the Group’s market structure development needs of tomorrow. In the interim, Ms So will continue to help oversee the Markets division until the appointment of a new Head of Markets, to be announced in due course.
“I am pleased to congratulate Glenda on her new role and to welcome Liang to HKEX. These appointments reflect our steadfast commitment to futureproofing our business, as we continue innovating for the next generation of investors, whilst maintaining the resilience, dependability and vibrancy that are hallmarks of our financial markets. Their significant operational and project management experience in financial services will help further bolster HKEX’s position as a leading global exchange,” said Ms Chan.
Biography of Mr Xu Liang
Mr Xu joins HKEX after nearly 20 years at Goldman Sachs Group in the US, Mainland China and Hong Kong, where he was most recently Managing Director, Co-Head of Asia-Pacific Operations. He previously held other senior operational roles at the investment bank, including Head of Asia Local Markets Operations, Head of China Operations, and Head of Asia IBD Operations. Before that Mr Xu worked at Procter & Gamble in the US.
Mr Xu has a Bachelor of Science degree in mechanical engineering from Tulane University in the US, and a Master of Business Administration from the Stern School of Business at New York University.
