The Hong Kong Exchanges and Clearing Ltd (HKEx) board has named Charles Li to succeed Paul Chow as the chief executive of HKEx and as ex-officio member of the board, effective Jan 16, 2010, according to a statement posted on its website yesterday.

The 48-year old Li has over 20 years of experience in investment banking and legal matters. He has worked for international law firms in New York and for international investment banks in Beijing, Hong Kong and New York.

In his current position as chairman, JP Morgan China, Li is responsible for all of JP Morgan's businesses in China.

Before joining JP Morgan in 2003, Li was managing director and president of Merrill Lynch China. During his eight-year service at Merrill Lynch, he was responsible for a wide range of investment banking businesses of the firm.

Li also worked at two New York law firms in the early 1990s. He was a reporter for China Daily in the mid-1980s. Before attending university in Fujian province, he was an oil worker in Bohai oilfield in the late 1970s.

Li was born in Beijing and brought up in Gansu province. He has a Bachelor of Arts degree in English literature from Xiamen University, a Master of Arts degree in journalism from the University of Alabama in the US and a Juris Doctor degree from Columbia University in New York.

Gaby Abdelnour, chairman and chief executive officer of JP Morgan Asia Pacific, said Li has had a significant influence on the success of the firm in China during his six years as chairman.

"Through his strong leadership and client relationships, Li was able to expand our businesses and strengthen our position in China," Abdelnour said.