The Hong Kong government has appointed Kelvin Wong Tin-yau, the current head of the accounting regulator, as the new chairman of the Securities and Futures Commission (SFC), replacing Tim Lui Tim-leung.
Wong, 63, will start his three-year term on October 20. He has resigned from his position at Cosco Shipping Ports to prepare for his new role.
Wong will be the first former executive of a listed company to lead the market watchdog, emphasizing the importance of diverse leadership.
In his statement, Wong expressed his honor in becoming the SFC chairman and highlighted the need to foster a sustainable and vibrant capital market.
Wong will continue as the chairman of AFRC until the end of this year. The government has yet to announce his successor at the AFRC.