Monday, February 24, 2020
Martin Hennecke

Li secures fresh term at HKEX
Hong Kong Exchanges and Clearing (0388) chief executive Charles Li Xiaojia has been reappointed to a new term from October 16 of this year up to October 15, 2021 at the local bourse operator. His basic salary is set at HK$9.315 million every year, with an annual increment of 3.5 percent. His base pay does not include performance-related discretionary bonus and share awards. HKEX chairwoman Laura Cha Shih May-lung praised Li for his efforts in raising funds for the local market. "His achievements in the past nine years have been noted," said Cha. Li joined the HKEX in October 2009 and became chief executive on January 16, 2010. He has been CEO for more than eight years, the longest ever since the local stock exchange operator filed for listing. When he became chief executive in 2010, his annual salary was HK$7.2 million, with an HK$8.4 million bonus. Last year, Li received total compensation of HK$48 million, according to an HKEX announcement. Li's career in financial services spans over 20 years. Before joining HKEX, he was Chairman of JP Morgan China, prior to which he was President of Merrill Lynch China. Before joining Merrill Lynch in 1994, Li practiced law in New York with Davis Polk & Wardwell and Brown & Wood.

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