HKEx Unveils Extensive Restructure

Romnesh Lamba, formerly HKEx's head of market development, and Martin Abbott, chief executive of HKEx subsidiary London Metal Exchange (LME), have been named co-heads of global markets ─ a new division. Global markets replaces the market development division, which has been dissolved and its personnel redeployed into the operating divisions. Lamba and Abbott will oversee the newly established equities and fixed income and currency (FIC) business, the commodities business, including LME, as well as the mainland development and the business development and strategy departments. Lamba succeeds Gerald Greiner as chief executive of the Stock Exchange of Hong Kong (SEHK) and Hong Kong Futures Exchange (HKFE).

Reporting to Lamba and Abbot will be the new co-heads of equities and FIC, Bryan Chan and Calvin Tai. Chan, previously head of market data, is principally responsible for cash trading, market data and the joint venture company, China Exchanges Services Company. Tai, formerly head of trading, principally oversees derivatives and product and index development.

Greiner, who was HKEx's COO and SEHK chief executive, has been appointed HKEx's head of global clearing, and will oversee all clearing businesses of the HKEx group, including existing clearing operations, over-the-counter (OTC) clearing, LME Clear and risk management. He continues to be the chief executive of Hong Kong Securities Clearing Company.

A three-headed directorship has been placed in charge of the new clearing risk management division, which will operate independently of enterprise risk management. Felix Wang and Ketan Patel, formerly deputy heads of risk management and Chris Jones, LME Clear's CRO, will reporting to Greiner. Wang is principally responsible for equities clearing risk management, Patel for FIC clearing risk management, including OTC clearing, and Jones for LME Clear risk management.

Kevin King tendered his resignation as head of enterprise risk management, effective Jan. 31.

Taking over as COO is Henry Ingrouille, the exchange's former chief administrative officer.