In Profile: Bonnie Chan Leads HKEX Back to Global IPO Crown
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Bonnie Chan. Photo: VCG
Bonnie Chan, the first female CEO of Hong Kong Exchanges and Clearing Ltd. (HKEX), is drawing attention as the bourse has returned to the top of the global IPO fundraising rankings under her leadership.
For 2025, HKEX reported revenue and other income of HK$29.2 billion ($3.7 billion), up 30% from the previous year, and profit attributable to shareholders of HK$17.8 billion, a 36% increase, marking a second consecutive year of record results.
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- Bonnie Chan, first female CEO of HKEX, led the bourse to top global IPO fundraising and record financial results in 2025 (revenue HK$29.2B, profit HK$17.8B).
- Under her leadership, diversity improved (single-gender boards fell from 800 to 85), and reforms included SPAC listings and IPO process improvements.
- Time named her among the 100 most influential people of 2025; HKEX is expanding into fixed income and exploring digital assets.
AI generated, for reference only
Who’s Who
- Hong Kong Exchanges and Clearing Ltd.
- Hong Kong Exchanges and Clearing Ltd. (HKEX) achieved record results in 2024, reporting HK$29.2 billion in revenue and HK$17.8 billion in profit attributable to shareholders. Under CEO Bonnie Chan, HKEX has regained its top global IPO fundraising ranking, diversified revenue streams, and introduced reforms like SPAC listings and the FINI platform. In 2025, HKEX adjusted rules for specialist technology issuers and reformed IPO pricing.
- Deacons
- Bonnie Chan, CEO of HKEX, worked at Deacons during her extensive career spanning over three decades in legal and capital markets roles. Before joining HKEX in 2007, she held positions at several prominent law firms, including Sullivan & Cromwell LLP and Davis Polk & Wardwell LLP, as well as at Morgan Stanley.
- Sullivan & Cromwell LLP
- Bonnie Chan, the current CEO of HKEX, previously held a position at Sullivan & Cromwell LLP. This was one of several legal and capital markets roles she undertook during her more than three decades in the industry. Her career also included time at Deacons, Davis Polk & Wardwell LLP, and Morgan Stanley.
- Davis Polk & Wardwell LLP
- Davis Polk & Wardwell LLP is a law firm where Bonnie Chan, the current CEO of Hong Kong Exchanges and Clearing Ltd. (HKEX), previously worked. She spent over three decades in legal and capital market roles, including her time at this firm.
- Morgan Stanley
- Bonnie Chan, the current CEO of HKEX, previously worked at Morgan Stanley. Her career spans over three decades in legal and capital markets roles before she joined HKEX in 2007, and later returned to take on various leadership positions, culminating in her appointment as CEO in March 2024.
- CMU OmniClear
- HKEX invested HK$455 million for a 20% stake in CMU OmniClear, a clearing platform under the Hong Kong Monetary Authority. This investment aims to strengthen HKEX's fixed-income infrastructure as it develops a fixed income and currency ecosystem.
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What Happened When
- 2007：
- Bonnie Chan first joined HKEX.
- 2020：
- Bonnie Chan returned to HKEX as head of listing.
- After 2020：
- Bonnie Chan helped manage listing disruptions linked to pandemic-related audit delays.
- 2023：
- Bonnie Chan became co-chief operating officer of HKEX.
- March 2024：
- Bonnie Chan was appointed as CEO of HKEX.
- 2024 and 2025：
- HKEX posted consecutive years of record results.
- By early 2025：
- Number of single-gender boards among listed companies fell from 800 in 2022 to 85.
- 2025：
- Time magazine named Bonnie Chan to its 100 most influential people list.
- 2025：
- HKEX reported revenue and other income of HK$29.2 billion and profit attributable to shareholders of HK$17.8 billion.
- 2025：
- HKEX introduced adjustments affecting specialist technology and biotech issuers, and reformed IPO pricing mechanism.
- 2026：
- FINI platform, shortening the time between IPO pricing and share trading from five to two business days, was implemented.
- 2026：
- HKEX invested HK$455 million for a 20% stake in CMU OmniClear to strengthen its fixed-income infrastructure.
AI generated, for reference only
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