Hong Kong’s SFC makes senior appointments

Hong Kong’s Securities and Futures Commission (SFC) has promoted Keith Lui to the position of executive director, supervision of markets. Lui, who has worked for the SFC for 14 years, began his three-year term as executive director on August 28, and will assume full management responsibility of the supervision of markets division.

In conjunction with his promotion, Lui was also appointed a member of the risk management committee of the Hong Kong Exchanges and Clearing (HKEx), which operates the territory’s stock exchange. Traditionally, the executive director of the supervision of markets division at the SFC would be appointed to the HKEx’s risk management committee. The latter position, however, has been vacant for months, since Martin Wheatley, the SFC’s previous executive director of supervision of markets, was promoted to chairman on October 1, 2005. Wheatley later became SFC chief executive in June 2006 after a bill was introduced to separate the role of chairman and chief executive.

Meanwhile, the SFC also appointed Brian Ho and Mark Steward as executive directors for corporate finance and enforcement respectively. Both will serve three-year terms, with Ho’s starting on August 28 and Steward's to begin from September 25.

Ho is a 12-year SFC veteran and was formerly senior director of corporate finance. Steward will join the SFC from the Australian Securities and Investments Commission (Asic), where he is currently deputy executive director.