Goldman Sachs (Asia) President Richard Gnodde and HSBC Asset Management (Hong Kong) CEO Blair Pickerell have been appointed new members of the Securities & Futures Commission's Advisory Committee.

Their term will be from July 1 until May 31, 2005. 

Morgan Stanley Dean Witter Asia Director Mario Francescotti retired as a committee member ahead of the end of his normal term due to personal plans.

The Government today expressed its appreciation for Mr Francescotti's invaluable advice to the commission.

The advisory committee is a statutory committee established under the Securities & Futures Ordinance to advise the commission on policy matters regarding its regulatory objectives and functions. 

The other serving government appointees are Thaddeus Beczak, Ambrose Cheung, Paul Chow, Paul Fan, Eddy Fong, Stephen Hui, Christine Loh, Roger Luk, Samuel Poon and Eden Woon.