Carlson Tong succeeds Laura Cha as chairman of Hong Kong Stock Exchange

Carlson Tong

24th April 2024 – (Hong Kong) The Hong Kong Exchanges and Clearing Limited (HKEX) has announced the appointment of Carlson Tong as its new chairman, succeeding Laura Cha. Mr. Tong, who has been serving as an independent non-executive director since 26th April last year, will assume his new role following the formal approval from the Chief Executive of the Hong Kong Special Administrative Region, as stipulated by the company’s Articles of Association and the Securities and Futures Ordinance.

Carlson Tong’s tenure as chairman will coincide with his current term as an independent non-executive director, which is set to expire at the annual general meeting of shareholders in 2025. This alignment ensures continuity in HKEX’s strategic objectives and governance during a period of potential market fluctuations and economic uncertainties.

Prior to this appointment, Mr. Tong has amassed an extensive portfolio of roles that have prepared him for this significant position. Notably, he served as the chairman of the Securities and Futures Commission, demonstrating his capability in overseeing and regulating financial markets. His experience is complemented by various other significant roles, including positions as a non-official member of the Board of Directors of a prominent investment management company in Hong Kong, and as an independent non-executive director of MTR Corporation and Standard Chartered PLC.

Moreover, Mr. Tong has been involved in governmental advisory capacities, most recently being appointed by the government to a task force aimed at enhancing stock market liquidity. This role involved a comprehensive review of factors affecting market fluidity and proposing improvements to the Chief Executive.

In recognition of his expanded responsibilities, Mr. Tong will receive a total remuneration of HK$4,550,000 for the 2024/2025 fiscal year. This remuneration reflects his roles not only as the chairman of the board but also his involvement in the board’s Executive Committee and the statutory Risk Management Committee.