Hong Kong Stock ExchangeFormer Kirkland Partner Takes Senior Role at Hong Kong Stock Exchange
Stephanie Lau has been named as co-head of the exchange's IPO vetting team in a round of promotions for former private practice lawyers.
April 29, 2020 at 07:07 AM
3 minute read
The Hong Kong Stock Exchange has appointed a former Kirkland & Ellis partner to help oversee the vetting of initial public offerings after her predecessor was charged with taking bribes.
The exchange has named Stephanie Lau to be a managing director and co-head of the IPO vetting team. Starting May 1, Lau will co-lead IPO vetting with managing director Lin Shi and report to Bonnie Chan, the exchange's head of listing.
Lau is currently a senior vice president at the exchange in charge of regulation and compliance of listed companies. She joined the exchange in 2016 from Kirkland & Ellis, where she was a Hong Kong partner specializing in corporate finance deals, including IPOs.
She first joined the U.S. firm in Hong Kong in 2011 and became a partner two years later. Lau was part of a Hong Kong corporate team led by three partners that moved to Kirkland in 2011 from Skadden, Arps, Slate, Meagher & Flom; she practiced for six years with Skadden before that.
In March, the Independent Commission Against Corruption of Hong Kong charged Eugene Yeoh, the former joint head of IPO vetting at the exchange, with accepting $1.18 million in bribes between 2017 and 2019. Yeoh had allegedly taken the money, through his wife, from an IPO consultant named Richard Lum and supported deals handled by Lum in return.
Yeoh, a former Deutsche Bank stock analyst, joined the exchange in 2013 and ascended to one of the top IPO vetting positions at the exchange within several years despite his lack of legal background and experiences. He resigned from the exchange last year after being arrested; Shi, also a corporate lawyer, has led the vetting team since.
In addition to Lau, the exchange also appointed two more senior executives with legal backgrounds. The listing department has named Katherine Ng as its chief operating officer. Ng, who was a former in-house lawyer at Merrill Lynch and practiced with Linklaters, has been a managing director with the department since 2013.
Meanwhile, Ng's predecessor and the current chief operating officer of the listing department, Grace Hui, is going to lead a green and sustainable finance team at the exchange's markets department. She practiced with Reed Smith earlier in her career and spent 10 years with UBS handling legal and operations before joined the exchange.
Chan, the exchange's head of listing, is a well-known capital markets lawyer in Hong Kong. She was a partner with Davis Polk & Wardwell between 2010 and 2019.
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