The Chief Executive has approved Ronald Arculli's appointment as Hong Kong Exchanges & Clearing Chairman.

Mr Arculli's chairmanship takes immediate effect and will coincide with his term as a Director of the HKEx Board, which expires at the end of the 2008 annual general meeting.

Financial Secretary Henry Tang said: "We are confident that with Mr Arculli's leadership, HKEx will strive to further enhance our market quality and competitiveness, and strengthen our position as the premier capital formation centre for the Mainland."