Former Citigroup Executive Leaves HKEX After 11 Months

(Bloomberg) -- Former Citigroup Inc. Managing Director Cindy Chen left Hong Kong Exchanges & Clearing Ltd. after less than a year.

Chen, who joined HKEX last December to head post-trade business development, confirmed her departure in a text message to Bloomberg. She declined to comment on her next move.

HKEX spokesman Jeffrey Ng said the company doesn’t comment on individual staff.

Among Chen’s responsibilities was to help build a blockchain based settlement system that would make it easier for international investors to trade China listed stocks. China settles trades on a same-day basis, which is a shorter time period than most major markets. A digital ledger-based system would potentially mean traders could arrange settlement details in advance and better coordinate between brokers, asset managers and custodians, HKEX said in October 2018.

In recent years, HKEX has hired ex-investment bankers, including Chen and Goldman Sachs Group Inc. Managing Director Wilfred Yiu, who joined in April as Head of Markets, to bolster its international exposure.

To contact the reporters on this story: Benjamin Robertson in London at brobertson29@bloomberg.net;Kiuyan Wong in Hong Kong at kwong739@bloomberg.net

To contact the editors responsible for this story: Jun Luo at jluo6@bloomberg.net, Jonas Bergman

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