Hong Kong investment chief joins global board in first for Chinese sovereign funds

The head of Hong Kong’s government investment agency has been appointed as a director of a global organisation that brings together leading firms and investors, marking the first time a Chinese sovereign wealth fund has held a seat on the board.FCLTGlobal announced on Wednesday that Clara Chan Ka-chai, CEO of the Hong Kong Investment Corporation (HKIC), had become one of the 19 directors on its board.“Clara brings deep experience and thoughtful leadership that will strengthen our work to promote longer-term decision-making,” Sarah Keohane Williamson, CEO of the non-profit organisation, said.“We are very pleased to welcome her to the board and look forward to the insight she will bring as we advance our mission.”Chan took the appointment as a recognition of the HKIC despite its short history.“I am humbled by the appointment to the board of directors of the FCLTGlobal, which comprises international, reputable and long-term institutional investors,” Chan said.“Notwithstanding the relatively short history of the HKIC among our global peers, we are pleased [with] the trust and recognition [they have shown] us and for the ongoing opportunity to contribute views and action plans from Hong Kong to further unlock the collective power of patient capital institutions around the world for [the greater] good.”