Bankers from JPMorgan and Citigroup are joining Hong Kong Exchanges and Clearing's (00388) committee responsible for approving initial public offerings, as Hong Kong strengthens its review of deal quality, Bloomberg reported, citing people familiar with the matter.
The people said that in a recent annual rotation, HKEX appointed Nelly Pai, JPMorgan's head of Hong Kong listing and corporate finance, and Alexander Schrantz, a managing director at Citigroup, as members of the listing committee.
The two new members will replace Stephen Clark of HSBC and Terence Keyes of Morgan Stanley, who are stepping down after completing six-year terms, the sources said. Choy Chung-fai, who retired in 2024, will also join the committee, according to the sources.
HKEX declined to comment on the new appointments and said in a statement that it "welcomes experienced industry professionals" to join the committee and will share any changes in due course.
