Wednesday, September 22, 2021
Martin Hennecke

HKEX names new MD
Karen Ng Hong Kong Exchanges and Clearing (0388) has appointed Anthony Crampton as managing director, head of management reporting and facilities management, with effect from November 1. Crampton will work across HKEX to help oversee management reporting and to oversee the exchange's facilities management within its real-estate portfolio to ensure the functionality, comfort, safety and efficiency of the offices and facilities. Before joining HKEX, he worked at Hong Kong Jockey Club as director of corporate finance for more than three years, responsible for building financial management processes and capabilities and for providing financial information, insight and recommendations. Meanwhile, Secretary for Financial Services and the Treasury Christopher Hui Ching-yu said the quota for the Cross-boundary Wealth Management Connect could be enlarged, depending on the market response. Hui said the initial quota of 150 billion yuan (HK$180.7 billion) is to accommodate huge demand from the mainland's middle class, adding there is much room for expanding the scheme to institutional investors. The scheme will bring about HK$4 billion of income to the financial industry every year, Deloitte expected. Separately, the recent significant increase in A-share turnover may be related to "fake foreign capital." Mainland media reported that two mainland funds frequently traded futures of A shares and the indexes in the mainland market, with five-times leverage in Hong Kong.

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