HONG KONG -- Charles Li, the chief executive officer of Hong Kong Exchanges & Clearing since 2010, is leaving the stock exchange operator, and a search is underway to name his successor.
The decision by Li, 58 years old and the architect of the failed $36.5 billion bid for London Stock Exchange Group last year, comes as the exchange reported a 13% decline in first-quarter profit to 2.26 billion Hong Kong dollars ($291.5 million) as investment losses and higher operating expenses negated a surge in trading and clearing fees.
