Following the announcement of HKEX’s president and chief operating officer, Calvin Tai’s retirement, which will see him depart the firm at the end of the month, John Buckley and Wilfred Yiu have been appointed as operating co-chiefs. Tai originally joined HKEX in 1998 and during his tenure, he served in a variety of senior positions including head of clearing, co-head of equities and FIC division and as head of its trading division.
Buckley and Yiu, who currently serve as head of exchange operations and transformation, and co-head of markets, respectively, will assume the role of co-chief operating officers on 1 June. The pair will maintain their current roles and responsibilities alongside their new one. In addition, Yiu will replace Tai as chief executive of the Stock Exchange of Hong Kong (SEHK) and Hong Kong Futures Exchange (HKFE).
US-headquartered bank Citi has bolstered its Australia Markets and Research division with trading and execution hires in a bid to meet increased client demand in the region. The bank has made four additions to the unit including Howard Ilderton, who re-joins the bank as its head of linear product and trading for Australia and New Zealand. In a trading capacity, Citi has appointed Will Buttigieg as a senior trader for its equity trading team, due to join in July.
Elsewhere Allan Newsome, who was formerly part of the bank’s prime services Hong Kong team, has been appointed to aid the expansion of Citi’s low touch electronic execution division.
Lastly, Norbert Wong has been selected to join Citi’s prime services team in June in a DeltaOne and securities-lending role.
Meanwhile, the US’ Securities and Exchange Commission (SEC) has confirmed plans to bolster its unit responsible for protecting investors in crypto markets and from cyber-related threats. The new division, which has been renamed Crypto Assets and Cyber Unit, will sit in the Division of Enforcement and increase from 30 dedicated positions to a 50-strong workforce.
The new positions will include supervisors, investigative staff attorneys, trial counsels and fraud analysts, both in the SEC’s Washington DC headquarters and across several regional offices.