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BREAKING NEWS

Stuart Gulliver and Joe Tsai to join HKEX advisory council

Stuart Gulliver and Joe Tsai to join HKEX advisory council
FILE PHOTO: HSBC Holdings Group Chief Executive Stuart Gulliver attends the Asian Financial Forum in Hong Kong, China January 15, 2018. REUTERS/Bobby Yip/File Photo -
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HONG KONG (Reuters) - Stuart Gulliver, former group chief executive of HSBC, and Joe Tsai, executive vice chairman of Alibaba, will advise the Hong Kong stock exchange operator on international developments, the company said on Thursday.

Hong Kong Exchanges and Clearing (HKEX) said in a statement that it would form a new International Advisory Council to "contribute to HKEX's understanding of our global environment".

Mary Schapiro, former chair of the U.S. Securities and Exchange Commission, also would be a founding member of the council, which would be chaired by HKEX Chairman Laura Cha, it added.

The council would advise on developments in foreign financial centres, geopolitics, technology and global regulations.

The bourse operator is scheduled to announce its three-year strategic plan next Thursday, the day after it publishes its 2018 full-year results.

HKEX said on Wednesday it would buy a majority stake in Chinese financial technology firm Ronghui Tongjin Technology to bolster its financial markets technological capabilities.

(Reporting by Alun John; Editing by Stephen Coates)

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