Money

HK launches global recruitment for CEO of SFC

(Xinhua)
Updated: 2011-02-19 13:18

HONG KONG - A selection panel has been set up to identify and consider suitable candidates from the globe for appointment as Securities & Futures Commission (SFC) Chief Executive Officer (CEO), upon the expiry of the contract of incumbent Martin Wheatley in June, the Hong Kong government said Saturday.

According to the government, the selection panel is chaired by Financial Secretary John C Tsang and comprises Chan Kam-lam, Moses Cheng Mo-chi, Eddy Fong Ching, Lawrence Lee Kam-hung, Carlson Tong and the Secretary for Financial Services and the Treasury, K C Chan.

"The new CEO will be pivotal in leading the operations of the Commission. He will have the executive responsibility for the day-to-day running of the SFC, and is tasked to implement the regulatory objectives under the Securities and Futures Ordinance, as well as the policies and strategies set by the SFC Board," said a government spokesman Saturday.

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The selection panel will commence a global recruitment of the proposed chairman of the commission. "A comprehensive search will be conducted both locally and overseas to identify the most suitable candidate to succeed Martin Wheatley who will leave the SFC in June 2011", the spokesman added.

Advertisements for the post are published in the local and international press starting on Saturday. An executive search firm has been engaged to broaden the network of search and assist in the recruitment exercise.

The current CEO of SFC Martin Wheatley joined the SFC in June 2005, and he was appointed as the commission's first CEO in 2006.