The WFE's Women Leaders 2025 - Vanessa Lau, Co-Chief Operating Officer and Group Chief Financial Officer, HKEX
Name: Vanessa Lau
Job title: Co-Chief Operating Officer and Group Chief Financial Officer
Organisation: Hong Kong Exchanges and Clearing Limited (HKEX)
1. Brief description of nominee’s role and job.
Vanessa Lau was appointed HKEX Chief Operating Officer (COO), effective 1 January 2025, in addition to her existing role as Group Chief Financial Officer (CFO). Vanessa is also Chief Executive of the Stock Exchange of Hong Kong and the Hong Kong Futures Exchange.
As COO, Vanessa oversees a broad range of responsibilities, from spearheading the Group’s strategic direction, to overseeing HKEX’s trading and post-trade operations in Hong Kong.
As Group CFO, Vanessa leads finance operations globally, including financial and management reporting, investor relations and treasury.
Vanessa also serves as a board director at the London Metal Exchange (LME) and as an independent non-executive director (INED) on the board of Swiss Re.
2. Short bio (career highlights, education, interests/hobbies).
Vanessa brings a diverse range of experiences and a multi-disciplinary perspective from her 30-year professional journey to her role at HKEX, including experience as an accountant at PricewaterhouseCoopers, corporate strategy consultant at McKinsey & Company, and metals and mining research analyst at Sanford C. Bernstein.
Her first Chief Financial Officer (CFO) role was at the age of 35 with Global Rolled Products, a subsidiary of the metals and mining giant Alcoa, based in New York. Navigating a senior role in a predominantly male industry was challenging, but Vanessa credits the experienced Group CFO at Alcoa for providing her with invaluable guidance and support during this challenging period.
Vanessa joined HKEX in 2015 and subsequently assumed the role of CFO for the Group’s Hong Kong finances. In 2020, she was promoted to Group CFO, subsequently expanded to Co-COO, and has now been appointed HKEX COO.
Vanessa's diverse career experiences have equipped her with unique perspectives and a deep understanding of various business functions, which shaped her approach as HKEX COO and Group CFO, making her a well-rounded, business-savvy executive adept at driving its corporate strategy.
Vanessa holds an MA in Mathematics and Computation from the University of Oxford and is a chartered accountant, having qualified with The Institute of Chartered Accountants in England and Wales. Vanessa was recognised as one of Crain’s New York Business “40 Under 40” Rising Business Stars in 2010.
In her free time, Vanessa enjoys music, and her portable keyboard has accompanied her as she relocated to different parts of the world.
3. What were your professional highlights and challenges of 2024?
Despite volatility in the markets and ongoing geopolitical tensions, 2024 has been a year of progress and growth at HKEX marked by new leadership, the launch of multi-year infrastructure enhancement programmes, and new trading records that underscore the market’s vibrancy and resilience.
In 2024, we set new records for turnover across our cash and derivatives markets, as well as on our Stock Connect programmes. At the end of Q3 2024, we reported record quarterly revenues and our second-best nine-month revenue and profit numbers.
For me personally, 2024 was a transformative year as I expanded my role beyond finance, taking on responsibilities in operations and strategy for the first time.
I navigated the complexities of managing multiple functions, making day-to-day decisions to ensure the resilience and vibrancy of our markets, leading a diverse team of more than 400 professionals out of over 2,500 at HKEX while also working closely with other members of the Management Committee to shape the overall direction for the entire organisation.
Leading operations, which includes mission-critical functions such as trading, clearing and depository, was a major honour and a memorable experience for me, particularly at times – like this year – when we faced unprecedented levels of trading activity in the markets and when we took major steps forward such as the development of the Orion Derivatives Platform, a multi-year technology project to enhance our market infrastructure.
A key achievement in 2024 was also the successful strategic discussions with the board during our annual strategy refresh in September, where we adeptly navigated complex geopolitical and market-specific issues while finding ways to grow the resilience of our markets and set the direction for the future.
Managing my bandwidth while handling multiple roles and travelling extensively, especially to board meetings across the world with the LME and Swiss Re, was one of the main challenges I faced in 2024. I often found myself making tough choices regarding time management, juggling personal and professional priorities. I also learnt to delegate more to my team to ensure that I could effectively lead across all areas.
During the year, I also took a long look at our team structure and brought in new talent to add depth and breadth to our personnel bench, including the recent announcement of a new head of operations who will help deliver our operations strategy.
4. Tell us about a few of your key achievements throughout your career?
Throughout my career, several key milestones have shaped my professional journey and contributed to the success of the organisations I have been a part of.
One of my earliest significant achievements was during my time at PricewaterhouseCoopers and at McKinsey where I learnt about mergers and acquisitions, corporate finance and strategy, helping companies develop expansion plans across Asia and helping me develop a broader perspective on business operations.
At Alcoa, I became the youngest division CFO at the company, and I led my team through the turbulence of the financial crisis, implementing strategies that stabilised the business and positioned us for recovery, all the while reinforcing my resilience and ability to lead under pressure.
In 2025, I will mark my 10-year work anniversary here at HKEX – the longest tenure of my career so far, and there is so much that I am proud of.
During this time, I have had the opportunity to support and learn from many different leaders here at HKEX. I have also been part of HKEX’s evolution from a local to a truly international exchange company with a now sizeable global reach and footprint.
Helping drive HKEX’s ground-breaking and fast expanding Connect programmes has also been a key highlight which I am particularly proud of, as it is a clear reflection of Hong Kong’s unique role in accelerating two-way mutual market access between China and the world.
As the first female CFO at HKEX, I have actively driven diversity dialogues on global platforms, while creating an inclusive culture that offers equal opportunities based on capabilities. This commitment is reflected in HKEX's leadership, with a significant representation of women in senior roles.
5. What and who inspires, and has inspired, you to achieve your professional success?
Throughout my career, I have been fortunate to have support from some experienced mentors. I have also been blessed with mentors supporting me at HKEX.
One of HKEX’s board members acts as a formal mentor to me and gives me advice on everything from the long-term progression of my career and mid-term advice on business decisions, right down to more micro considerations about how to best communicate an idea or thought.
My tenure at HKEX has also given me the chance to work with several inspirational leaders, including Carlson Tong, Laura M Cha and Bonnie Y Chan. Their leadership and commitment to building Hong Kong as a stronger financial centre have motivated me to strive for excellence.
Additionally, my international network and experiences have played a crucial role in shaping my professional success. Serving on the boards of Swiss Re and LME has provided me with different perspectives and enriched my work at HKEX. These experiences have reinforced my belief in the importance of continuous learning and adaptability in an ever-changing global landscape.
6. How have you overcome setbacks, and what advice would you give to others dealing with setbacks?
One of the most significant challenges I encountered was during my time at Alcoa, where I became the youngest CFO at the age of 35. Shortly after I took on the role, the global financial crisis hit, cutting our unit's revenues by one-third. This was a daunting period, but it taught me the importance of resilience and adaptability.
Another notable challenge was the transition from a traditional finance role to a more strategic and operational position at HKEX. This required me to expand my skillset and manage a broader range of responsibilities. I overcame this challenge by continuously learning and seeking advice from mentors and colleagues. Their support and guidance were invaluable in helping me navigate this transition successfully.
My advice to others is to remain passionate about your work. Passion drives perseverance and helps you stay motivated even when faced with obstacles. For me, my passion for Hong Kong and my commitment to its long-term success have been significant motivators in overcoming setbacks and striving for excellence.
7. What advice do you have for other women who aspire to be in leadership positions? What is the biggest takeaway you want to leave with the reader?
For women aspiring to be in leadership positions, my advice is to embrace challenges and never impose limitations on yourself. Throughout my career, I have worked in male-dominated industries like metals and mining, and I never found being female to be a disadvantage. Instead, I focused on my capabilities and the value I could bring to the table.
One key message I try to convey is that the path to leadership is never straightforward, and there are multiple ways to achieve your goals. My own career progression is a testament to this. I have worked in various roles and industries, each presenting unique challenges and opportunities. I advise embracing new experiences, as they will help you grow and develop a well-rounded skill set.
The biggest takeaway I want to leave is that gender should not be an obstacle to exploring career opportunities. Focus on your capabilities, embrace challenges, and remain passionate about your work. By doing so, you can achieve your professional goals and contribute to the success of your organisation.