Julia Leung named next SFC chief
The government has named Julia Leung as chief executive officer of the Securities and Futures Commission (SFC) for a three-year term.  Leung, currently the deputy CEO of the market regulator, will be elevated to the top post in January, succeeding outgoing chief Ashley Alder who is leaving to head the UK’s financial conduct watchdog.  Announcing Leung’s appointment on Thursday, Financial Secretary Paul Chan said in a statement that the authorities have every confidence in her.  “Ms Leung has profound knowledge of and extensive experience in the operation and regulation of the securities and futures markets in Hong Kong and the operation of the SFC, deep understanding of the financial markets in the mainland and overseas, good standing in financial arenas, and the vision for enhancing Hong Kong as an international financial centre,” Chan said.  In a separate statement, SFC chairman Tim Lui noted that Leung has a proven track record in managing highly-complex regulatory issues and pioneering regulatory initiatives. “The SFC will benefit from her leadership in advancing its strategic goals and fulfilling the mandate of safeguarding investors, maintaining market integrity and quality as well as strengthening the competitiveness of Hong Kong’s financial markets,” Lui said. For her part, Leung said she is “delighted and honoured”, adding that the commission will redouble its effort to continue to deliver as a world-class market regulator, as it enters its third decade.  “The SFC will strive to ensure that Hong Kong’s regulatory framework and market infrastructure are fit for purpose so that Hong Kong would thrive as the most important international financial hub with ever-increasing connectivity with markets on the mainland and the rest of the world,” she said. Leung has been Alder’s deputy at the watchdog since 2018.  Before joining the SFC, she worked in the government and at the Hong Kong Monetary Authority for a total of almost two decades. She was also a journalist at The Wall Street Journal Asia for 10 years. 