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HKEx gives CEO pay rise in new deal
Source: Bloomberg News |
September 14, 2012, Friday
|
Print Edition
Print Edition
HONG Kong Exchanges & Clearing Ltd has renewed the contract of CEO Charles Li and given him a 7.5 percent pay rise, said a statement from the exchange on Wednesday.
Li's salary was increased to HK$8.09 million (US$1.04 million), according to the statement. His new contract will run from October 16 to October 15, 2015. Last year Li was paid a salary of HK$7.52 million and a HK$7.52 million bonus, according to the HKEx's annual remuneration report.
The company, which lost its place as the world's biggest exchange operator by market value to CME Group Inc, is seeking to broaden its business as the pipeline of large initial public offerings from China slows and equity volumes fall. It is bidding to buy the London Metal Exchange to expand into commodities markets and is developing cross-border products with its Shenzhen and Shanghai counterparts.
Singapore Exchange Ltd renewed the contract of its CEO in June through 2015 and included a 33 percent pay rise.
Li's salary was increased to HK$8.09 million (US$1.04 million), according to the statement. His new contract will run from October 16 to October 15, 2015. Last year Li was paid a salary of HK$7.52 million and a HK$7.52 million bonus, according to the HKEx's annual remuneration report.
The company, which lost its place as the world's biggest exchange operator by market value to CME Group Inc, is seeking to broaden its business as the pipeline of large initial public offerings from China slows and equity volumes fall. It is bidding to buy the London Metal Exchange to expand into commodities markets and is developing cross-border products with its Shenzhen and Shanghai counterparts.
Singapore Exchange Ltd renewed the contract of its CEO in June through 2015 and included a 33 percent pay rise.
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