Nasdaq names HKEX’s Roland Chai as its new CRO
The Nasdaq Stock Market has appointed a new chief risk officer (CRO) from the Hong Kong Exchange (HKEX), Roland Chai. Reporting directly to Nasdaq’s president and CEO Adena Friedman, Chai will head up the exchange’s global risk program.
Previously head of post-trade at HKEX where he oversaw the exchange’s market surveillance as well as its clearing and risk management, Chai also spent more than seven years at LCH – a group of multi-asset clearing houses which provide risk management services. There, he headed up equities for EquityClear.
The new CRO will begin at Nasdaq on 1 June 2020, and will be based in Stockholm, Sweden.
“Risk management is an essential part of Nasdaq’s global business and operations,” says Nasdaq CEO Friedman. “Roland brings extensive experience in establishing and implementing risk frameworks across functions as well as strong management capabilities that will further strengthen and enhance our decision making and business operating processes.”
Chai also spent years of his earlier career as a consultant at Accenture, and as a business systems manager at family-controlled finance and wealth management firm Rothschild & Co.
“Nasdaq […] is recognised as a leader in providing risk management solutions for its own markets, regulators and other industries,” says Chai. “I’m thrilled to be joining the company to continue bolstering its global, enterprise-wide risk culture.”
Last month, Nasdaq launched a new data tool designed for major banks within their trade surveillance tool kit called ‘Nasdaq Trade Surveillance’. Initially designed to focus on surveillance, the stock exchange says it will later be used by other market technology platforms within Nasdaq to offer further insights off the basis of its data analysis.
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