Editorial | HKEX takes stock of its first female leader
- Bonnie Chan will need a little more luck than the Hong Kong bourse’s current CEO when she takes over in May next year
It’s about time Hong Kong Exchanges and Clearing (HKEX) was led by a female chief executive. Bonnie Chan Yiting will also be the first internal promotion to lead Asia’s third-largest stock market. HKEX is practising what it preaches.
Last year, it imposed a gender diversity rule by requiring a formal end of all-male boards among publicly traded companies by the end of 2024. A third of HKEX board members are currently women.
The appointment of Chan, who will take over in May next year, comes at a challenging time for HKEX as IPO activities, total market capitalisation and stock market transactions have all dwindled to their lowest in many years. The reasons are complex, with high interest rates and the strong US market the biggest magnets sucking capital away from Asia.
There are also geopolitical tensions and the Chinese economic downturn to worry about.
She will need better luck than incumbent Nicolas Aguzin. Some have unfairly blamed the HKEX chief executive for the stock market’s slump.
