Hong Kong Securities and Future Commission to Name Former KPMG Exec Chairman

By Michael Foster, Big4.com Blogger

Hong Kong has appointed former KPMG executive Carlson Tong as chairman of the city’s Securities and Futures Commission (SFC), reports the Wall Street Journal.

Previously, Tong served as KPMG China and Asia Pacific Chairman, after joining KPMG’s UK practice in 1979. He is originally from Hong Kong and is a chartered accountant in both Hong Kong and the United Kingdom. He was born in Hong Kong and returned to the city-state in 1985, where he has remained with KPMG. In 2007, he became Asia pacific Chairman and retired from the firm last year.

Upon retirement, Tong became the Independent Governor of Hong Kong’s English Schools Foundation, a government agency responsible for operating fourteen schools for special educational students in the city, as well as six private independent schools. All schools offer education in English. Tong’s term as ESF Chairman is set to expire in May 2014.

Tong has also served on several government boards and committees, including the Compensation Insurance Levies Management Board, the University Grants Committee, and the MPF Schemes Appeal Board. He was also vice president of the Hong Kong Institute of Ceritifed Public Accountants from 2001 to 2008.

Tong will replace Eddy Fong, who served as SFC Chariman for six years. Prior to his appointment, Fong had worked for PwC in Hong Kong.