Wilfred Yiu is retiring at the end of the year, HKEX has announced.
Yiu has been with the firm since 2019, and currently serves as deputy chief executive officer, co-chief operating officer and co-head of markets.He is also CEO of The Stock Exchange of Hong Kong (SEHK) and Hong Kong Futures Exchange (HKFE).
HKEX closed Q3 with US$4,852 million in revenue and other income, it reported, the highest it has seen in a third quarter. The monthly average daily volume for stock options contracts spiked in September, hitting a yearly high of 9.4 million. Monthly average daily turnover on the stock exchange rose in tandem, reaching US$169.2 billion at the end of Q3.
On a year-to-date basis, revenues were up marginally year-on-year for cash and equity and financial derivatives. US$6,351 million was reported for the former, up 1%, and US$4,517 for the latter, up 6%.
Vanessa Lau, co-chief operating officer and chief financial officer, will become the sole chief operating officer and take over Yiu’s SEHK and HKFE roles. She will be supported by Xu Liang, who will report to Lau as managing director and head of operations from 10 February.
Xu has more than 25 years of industry experience and has spent almost two decades with Goldman Sachs, most recently as co-head of APAC operations.
HKEX has also created a new division under the remit of chief information officer Richard Leung, aiming to address changing market requirements and futureproof the business. Glenda So, currently co-head of markets, has been appointed head of platform and market structure development.
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