China International Futures Exchange (CHIFEX) board of directors appointed Dr. Harry Albers as Head of Compliance.
(1888PressRelease) November 08, 2013 - The China International Futures Exchange (CHIFEX) board of directors appointed Dr. Harry Albers as Head of Compliance on Thursday, October 31. He will succeed Michelle Levans, who announced in mid-July that she would leave her post at the end of the year.
Mr. Albers replaces Michelle Levans, having been elected by the China International Futures Exchange (CHIFEX)'s board members.
Dr. Albers worked as a consultant to large corporations in the telecommunications and energy industries on a range of business strategy and management issues. His previous consulting experience in the energy business is extensive, with casework involving performance improvement, mergers, acquisitions, deal valuation, energy price forecasting, transaction strategy, transmission analysis and commodity risk hedging. Dr. Albers received a Ph.D. degree in Chemical Physics from Harvard University.
The election of Mr. Albers as Head of Compliance of the China International Futures Exchange (CHIFEX) was decided among strong competition including Mr. Daniel Lee, former chairman of China International Futures Exchange and Mr. Jacob Elderman, a former senior executive at one of Shanghai's major financial institutions, Bank of China, who according to Shanghai's financial news source Shanghai Dayly, Mr. Elderman withdrew his candidacy due to a possible conflict of interest with other business ventures.
Mr. Albers is well positioned to preside over the bourse, as a highly respected senior industry professional of high ethical standards, who is a senior international industry figure. He brings managerial experience in a competitive and highly regulated environment that requires an innovative and creative attitude as well as strategic planning and execution capabilities. As Head of Compliance with China International Futures Exchange (CHIFEX), he is familiar with trade and clearing.
On the announcement of Mr. Albers's appointment, China International Futures Exchange chairman, Tom Liu, explained publicly that the commodity market is "a major and significant venue and a major contributor to the success of the economy of People's Republic of China, and I believe that together with the staff of the China International Futures Exchange (CHIFEX), its management and the board we can meet important tasks which rest upon our shoulders."
Mr. Sian Chung, President of China International Market Exchange (CHIFEX), welcomed the appointment of Mr. Albers as China International Futures Exchange's (CHIFEX) Head of Compliance and wished him success in his position: "I have no doubt that Mr. Albers has the ability to lead the China International Futures Exchange (CHIFEX) to new highs and position it as a generator of economic growth as one of the major pillars of industry in China".
China International Futures Exchange (CHIFEX) board of directors appointed Dr. Harry Albers as Head of Compliance. 
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