HKEX Names Richard Wise as Its New Chief Risk Officer

The Hong Kong Exchanges and Clearing Limited (HKEX) announced on Monday the appointment of Richard Wise as its new group chief risk officer.

He is bringing nearly three decades of experience in the financial markets to the company and will assume the position in November. He will replace John Killian, who joined the Group earlier this year and will retire after the first quarter of next year.

The early appointment will ensure a smooth transition in one of the key roles in the Asian Exchange Exchange An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv An exchange is known as a marketplace that supports the trading of derivatives, commodities, securities, and other financial instruments.Generally, an exchange is accessible through a digital platform or sometimes at a tangible address where investors organize to perform trading. Among the chief responsibilities of an exchange would be to uphold honest and fair-trading practices. These are instrumental in making sure that the distribution of supported security rates on that exchange are effectiv Read this Term.

In his new role, Wise will be responsible for overseeing the Group’s Risk Management Risk Management One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, One of the most common terms utilized by brokers, risk management refers to the practice of identifying potential risks in advance. Most commonly, this also involves the analysis of risk and the undertaking of precautionary steps to both mitigate and prevent for such risk.Such efforts are essential for brokers and venues in the finance industry, given the potential for fallout in the face of unforeseen events or crises. Given a more tightly regulated environment across nearly every asset class, Read this Term functions, including Group Credit and Quantitative Analysis, Group Cyber and Technology Risk Management, and Enterprise Risk Management, the announcement detailed.

“I am very delighted to welcome Richard to HKEX to lead our critical risk management function,” Charles Li, HKEX’s chief executive officer, said on the new hiring. “He brings to the Group nearly three decades of experience in financial markets, and will work across the business to ensure that our risk culture, policies, and procedures are front and central in all that we do.”

An Expert in Financial Risk Management

Wise is joining the group from Credit Suisse, where he is currently appointed as the chief risk officer for the Asia Pacific and is based in Singapore.

He started his career in London trading equity derivatives and fixed income products and was appointed to leadership roles in major financial institutions over the last two decades. He has served in all global financial hubs, including London, Tokyo, New York, and currently Singapore.

Furthermore, he headed JP Morgan’s global market risk management team and was later appointed as the chief risk officer at JP Morgan Securities.

Wise’s hiring came weeks after the Hong Kong exchange on-boarded Brian Lee as a managing director and group head of technology risk.