Asia Securities Industry & Financial Markets Association ASIFMA Appoints Hong Kong Private Wealth Management Association CEO Peter Stein as New CEO Effective 8th February 2024, Succeeds Alice Law Who Resigned in July 2023
23rd November 2023 | Hong Kong
The Asia Securities Industry & Financial Markets Association (ASIFMA) has announced the appointment of Hong Kong Private Wealth Management Association CEO Peter Stein as the new ASIFMA CEO (effective 8th February 2024), succeeding Alice Law who resigned in July 2023. Alice Law who joined ASIFMA in 2022, had served in the public sector for 23 years including senior positions in the Mandatory Provident Fund Schemes Authority (MPFA, Deputy Chairman and Managing Director of the Mandatory Provident Fund Schemes Authority) and the Securities and Futures Commission (SFC) in the Hong Kong SAR. The Asia Securities Industry & Financial Markets Association (ASIFMA) is the region’s leading financial industry group representing over 170 financial firms from the buy and sell side. ASIFMA: “Peter Stein took over as Managing Director of PWMA (Private in December 2016, and was also named CEO in July 2021. Established in 2013, PWMA is an industry association whose mission is to foster the growth and development of the private wealth management industry in Hong Kong. Prior to joining PWMA in December 2016, Peter worked for UBS AG, where he served as Head of Regulatory Advisory & Relations, Asia Pacific and before that as Head of Group Governmental Affairs for Asia Pacific. He also acted as an ASIFMA Board member during his tenure at UBS. Until 2011, Peter was a senior editor, reporter and columnist in Hong Kong with The Wall Street Journal, where he worked for more than 20 years. He was the Journal’s Hong Kong Bureau Chief from 2005-2011 and before that was Managing Editor of the Journal’s Asian edition.”
“ Asia Securities Industry & Financial Markets Association ASIFMA Appoints Hong Kong Private Wealth Management Association CEO Peter Stein as New CEO Effective 8th February 2024, Succeeds Alice Law Who Resigned in July 2023 “
Harshika Patel, Chairperson of ASIFMA: “On behalf of the Board of ASIFMA, I am thrilled to confirm Peter’s appointment as CEO. Together with his experience of the industry, Peter has developed strong ties with ASIFMA over the years given his most recent role as the head of a fellow industry association. We are very much looking forward to Peter’s leadership in this exciting new chapter for ASIFMA.”
Asia Securities Industry & Financial Markets Association ASIFMA Appoints Hong Kong Private Wealth Management Association CEO Peter Stein as New CEO Effective 8th February 2024, Succeeds Alice Law Who Resigned in July 2023
21st November 2023 – The Asia Securities Industry & Financial Markets Association (ASIFMA), the region’s leading financial industry group representing over 170 financial firms from the buy and sell side, has confirmed that its new CEO will be Peter Stein, currently CEO and Managing Director of the Private Wealth Management Association (PWMA). Based in Hong Kong, Peter will commence his CEO position at ASIFMA on 8 February 2024. He replaces Alice Law who resigned from the role in July 2023.
Peter Stein took over as Managing Director of PWMA (Private in December 2016, and was also named CEO in July 2021. Established in 2013, PWMA is an industry association whose mission is to foster the growth and development of the private wealth management industry in Hong Kong. Prior to joining PWMA in December 2016, Peter worked for UBS AG, where he served as Head of Regulatory Advisory & Relations, Asia Pacific and before that as Head of Group Governmental Affairs for Asia Pacific. He also acted as an ASIFMA Board member during his tenure at UBS. Until 2011, Peter was a senior editor, reporter and columnist in Hong Kong with The Wall Street Journal, where he worked for more than 20 years. He was the Journal’s Hong Kong Bureau Chief from 2005-2011 and before that was Managing Editor of the Journal’s Asian edition.
Alice Law, ASIFMA CEO
Alice Law is the Chief Executive Officer of the Asia Securities Industry & Financial Markets Association (ASIFMA). Ms Law oversees the association of over 165 members firms with divisions focusing on Equities and Post-Trade, Compliance and Tax, Fixed Income, Public Policy and Sustainable Finance, Technology and Operations, Asset Management and Education & Training. Prior to joining ASIFMA, for 23 years Ms. Law served in the public sector and held various senior positions in the Mandatory Provident Fund Schemes Authority (MPFA) and the Securities and Futures Commission (SFC) in the Hong Kong SAR. During her tenure as the Deputy Chairman and Managing Director of the Mandatory Provident Fund Schemes Authority (MPFA) from 2018 to 2021, Ms. Law spearheaded the commencement of the eMPF Project, a multi-billion dollar digital transformation programme that will reshape the Hong Kong MPF ecosystem of over HK$1 trillion dollar worth of assets. Prior to her roles at the MPFA, Ms. Law was an experienced financial regulator having served 14 years in the SFC and participated in a number of market reforms following the respective Asian and global financial crises. Ms. Law made significant contributions to explore other frontiers for the Hong Kong market by setting up new rules for exchange traded products, real estate investment funds and structured products. Ms. Alice Law has been a Council member of the World Economic Forum since 2014. She was the Co-chair of Global Future Council on Responsive Financial Systems of the World Economic Forum between 2020-2022 (June), the focus of which is on digital led economic recovery, Green Finance and climate change issues. She is the first Hong Kong Chinese to assume this leadership role. Ms. Alice Law was appointed as an Adjunct Professor in the Faculty of Law of the University of Hong Kong in 2022. Ms. Law is a solicitor admitted in Hong Kong and in England and Wales. She obtained her Master of Laws degree from the University College of London and is a law graduate of the University of Hong Kong. She had years of private legal practice in Hong Kong before joining the public sector. Ms. Law was born in Hong Kong and is proficient in Chinese (Putonghua and Cantonese) and English.
About ASIFMA
ASIFMA is an independent, regional trade association with over 170 member firms comprising a diverse range of leading financial institutions from both the buy and sell side, including banks, asset managers, law firms and market infrastructure service providers. Together, we harness the shared interests of the financial industry to promote the development of liquid, deep and broad capital markets in Asia. ASIFMA advocates stable, innovative, and competitive Asian capital markets that are necessary to support the region’s economic growth. We drive consensus, advocate solutions and effect change around key issues through the collective strength and clarity of one industry voice. Our many initiatives include consultations with regulators and exchanges, development of uniform industry standards, advocacy for enhanced markets through policy papers, and lowering the cost of doing business in the region. Through the GFMA alliance with SIFMA in the United States and AFME in Europe, ASIFMA also provides insights on global best practices and standards to benefit the region. More information about ASIFMA can be found at: www.asifma.org.
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