Are Asian Capital Markets Coming Together or Falling Apart?
The KPMG-Asia Society Asian Economic Integration Series
There has been a recent flurry of merger activity amongst stock exchanges in the region and globally. What is the motivation behind this trend? Are stock exchanges viewing consolidation as key to survival? What are the emerging key trends? How feasible are mergers between exchanges in the region, given the markets are at such varying stages of development and governed by such a diverse set of rules? What impact will capital market integration have on cross-border capital flows and investments in Asia and the rest of the world?
CEO, Hong Kong Exchanges and Clearing Ltd. (HKEx)
Charles Li is Chief Executive of Hong Kong Exchanges and Clearing and has 20 years experience as a banker and lawyer in Hong Kong, mainland China, and New York. Immediately before joining HKEx, he was chairman of JP Morgan Chase China and prior to that was president of Merrill Lynch China. Before moving to Merrill Lynch in 1994, he practiced law in New York with DavisPolk & Wardwell and Brown & Wood. He obtained a BA degree from Xiamen University of China, MA from the University of Alabama, and JD degree from Columbia University.
CEO, Singapore Exchange Ltd.
Magnus Böcker joined SGX as CEO in 2009 and currently serves as a non-independent director on the SGX Board. Böcker has over two decades of leadership experience in the exchange industry, including as president of NASDAQ OMX from 2008-2009. He spearheaded the creation of OMX (the Nordic Exchanges Company) and subsequently played a key role in the merger of OMX and Nasdaq in 2008. Under his leadership, OMX became the world’s largest provider of technology solutions for exchanges, clearing organizations, and securities depositories.
Managing Director & CEO, Bombay Stock Exchange Ltd. (BSE)
Madhu Kannan has been Managing Director and CEO of BSE since 2009 as well as Director of Central Depository Services India Ltd. He also serves as Director of United Stock Exchange of India. Before joining BSE, he was Managing Director of Strategy and Business Development at Bank of America - Merrill Lynch in New York. Prior to that, he was Vice President, Asia-Pacific, Global Corporate Client Group at NYSE Euronext, Inc. Kannan was nominated as a Young Global Leader in 2007 by the World Economic Forum.
Ronnie C. Chan
Co-Chair, Asia Society; Chairman, Hang Lung Properties Ltd. (Moderator)
Ronnie C. Chan is the Co-Chair of the Asia Society and Chairman of its Hong Kong Center. He is also Chairman of Hang Lung Group Limited and its subsidiary Hang Lung Properties Limited. Both are publicly listed companies in Hong Kong, dealing in real estate and property investment, development and management. Chan also co-founded the privately held Morningside group which in the past two decades has owned and managed businesses in several sectors including manufacturing, media, healthcare, online gaming, and high-tech and biotech.