April 24 (Reuters) - Hong Kong Exchanges and Clearing (HKEX) named Carlson Tong as its new chairman, succeeding Laura M Cha who retired after the conclusion of the 2024 annual general meeting, the bourse operator said on Wednesday.

Sources told Reuters last month that 69-year-old Tong, who is HKEX's non-executive director, had emerged as the frontrunner to take over from Cha.

The change is the latest to the leadership of HKEX, which has struggled to improve its


dented by geopolitical tensions and China's economic slowdown.

Last month, Bonnie Chan, who was the listing division head, took over as

chief executive

from former JPMorgan banker Nicolas Aguzin.

Tong served as chairman of the city's Securities and Futures Commission from 2012 to 2018 after more than two decades at consultancy KPMG. He currently chairs an independent commission on remuneration for members of Hong Kong's Executive Council and Legislature.

Tong's appointment is subject to the written approval of Hong Kong's Chief Executive, or leader.

(Reporting by Himanshi Akhand in Bengaluru; Editing by Subhranshu Sahu and Eileen Soreng)