Hong Kong stock exchange operator HKEX has made a suite of changes to its management team, with the company announcing this Thursday that it has recruited two new members - Wilfred Yiu and Bipin Patel.
According to the statement released today, Wilfred Yiu will become part of the HKEX team on the 8th of April this year as Head of Markets. In this role, he will report to the Chief Executive Officer (CEO) of the Hong Kong company Charles Li and Calvin Tai in his capacity as Chief Operating Officer (COO).
Yiu joins the stock exchange operator from Beijing Gao Hua Securities in China. Here, he was most recently the Deputy CEO and Chief Operating Officer. In his new role, he will be responsible for the stock exchange’s equity and derivatives markets business and operations. He replaces Roger Lee, who retired from the position in December of last year.
Bipin Patel, on the other hand, will be joining HKEX in April as the Group Risk Officer and will also report to Charles Li. Both of the recruits will be members of the Group’s Management Committee, subject to HKEX Board’s approval, the statement said.
At HKEX, Patel will be in charge of the Group’s Risk Management and information security. At present, he is a Senior Advisor for the JPX Group and advises the Japan Securities Clearing Corporation. During his career, which spans decades, he also worked at LCH Clearnet where he led the foreign exchange (Forex ) quantitative risk team.
HKEX Reveals Internal Moves
In addition to the recruits, HKEX also announced a number of internal moves. This includes Calvin Tai, the current COO and interim Head of Clearing and Head of Markets, who will maintain his position of COO and will also take on the role of Co-President of HKEX.
Romnesh Lamba, who is currently co-head of Market Development, has been appointed Co-President of HKEX, along with Tai. Both of these appointments will be effective from the 1st of March.
Roland Chai is Appointed to Head of Post-Trade
Furthermore, Roland Chai, who is the current Group Risk Officer, will take on the newly created role of Head of Post-Trade, effective from the 8th of April when Patel will take over. He will report to the CEO and Tai, in his role as the COO.
The new Post-Trade division at HKEX includes its clearing and risk management functions across equities and fixed income, currencies, and commodities for both on-exchange and over-the-counter (OTC).
