Hong Kongs financial sector has welcomed news of the
hiring of Herbert Smith Hong Kong based partner, Ashley
Alder, as Securities and Futures Commissions (SFC) new
Alder will replace Martin Wheatley who left the SFC in June
to head up the UKs new
Consumer Protection and Markets Authority.
The SFC is expected to formally announce the move on
This is great news for the market, said a Hong
Kong-based bankers counsel. Alder knows the people
in the market, he knows the banks. He understands.
Alders three-year stint as board member and executive
director of the SFCs corporate finance division from
2001 to 2004 garnered him the respect of the market,
explained one international law firm partner based in the
The market thinks very highly of him; he did better in
that role than many others managed, he said.
As Herbert Smiths Asia head, Alder specialises
in private equity, financial services, venture capital and
direct investments, as well as regulatory and compliance work.
A replacement for him at the firm has already been lined up and
will be announced next week, a person close to the matter told
Alder was unavailable for comment. While a Herbert Smith
spokesperson said the hiring was well-deserved. We are
delighted for him, he said.