HKEx said Li was expected to take up office on October 16 this year, after Paul Chow HKEx retired, officially took over the HKEx Chief Executive Officer and board member on January 16 next year.

And JP Morgan also pointed out that Li soon would quit China JP Morgan Chase Chairman position.

48-year-old Li Xiaojia joined JP Morgan Chase in 2003, and had previously served Merrill Lynch. His personal experiences can be said to be a legend, working as oil workers, journalists, lawyers, bankers and so on. Before he was appointed by the HKEx board, concerns were raised about his lack of experiences on exchange operations in market.

HKEx pointed out that “His vast networks in the Mainland will help further enhance the competitiveness of the Hong Kong Stock Exchange, to deal with the challenges ahead.”