Sir David Li Kwok-po (; born 13 March 1939, London, England) is a Hong Kong banker and politician. He is the executive chairman of the

Bank of East Asia The Bank of East Asia Limited, often abbreviated to BEA, is a Hong Kong public banking and financial services company headquartered in Central, Hong Kong, Central, Hong Kong. It is currently the largest independent local Hong Kong bank, and o ...

and

pro-chancellor A pro-chancellor is an officer of some universities in Commonwealth countries. The pro-chancellor acts as a deputy to the chancellor and as practical chairman of the university council. In this role, a pro-chancellor may fulfil a number of for ...

of the

University of Hong Kong The University of Hong Kong (HKU) is a public research university in Pokfulam, Hong Kong. It was founded in 1887 as the Hong Kong College of Medicine for Chinese by the London Missionary Society and formally established as the University of ...

. He was a member of the

Legislative Council of Hong Kong The Legislative Council of the Hong Kong Special Administrative Region, colloquially known as LegCo, is the Unicameralism, unicameral legislature of Hong Kong. It sits under People's Republic of China, China's "one country, two systems" c ...

and the

Executive Council of Hong Kong The Executive Council of Hong Kong (ExCo) is the Cabinet (government), cabinet of the Government of Hong Kong, acting as a formal body of advisers to the Chief Executive of Hong Kong that serves as a core policy-making organ assisting the c ...

in the 2000s.

Family background

The Li family with roots in Heshan,

Jiangmen Jiangmen ( zh, c=江门), postal map romanization, alternately romanization of Chinese, romanized in Cantonese as Kongmoon, is a prefecture-level city in Guangdong provinces of China, Province in southern China. It consists of three urban distri ...

Guangdong ) means "wide" or "vast", and has been associated with the region since the creation of Guang Prefecture in AD 226. The name "''Guang''" ultimately came from Guangxin ( zh, labels=no, first=t, t= , s=广信), an outpost established in Han dynasty ...

China China, officially the People's Republic of China (PRC), is a country in East Asia. With population of China, a population exceeding 1.4 billion, it is the list of countries by population (United Nations), second-most populous country after ...

has long had a prominent position in Hong Kong. David Li's great-grandfather, Li Shek-tang, made his fortune bringing rice to Hong Kong from

Vietnam Vietnam, officially the Socialist Republic of Vietnam (SRV), is a country at the eastern edge of mainland Southeast Asia, with an area of about and a population of over 100 million, making it the world's List of countries and depende ...

. In 1918, Li's grandfather,

Li Koon-chun Li, li, or LI may refer to: Businesses and organizations * Landscape Institute, a British professional body for landscape architects * Leadership Institute, a non-profit organization located in Arlington, Virginia, US, that teaches "political tec ...

, along with his great-uncle, founded the

, the first Chinese-owned bank in the territory. His father,

Li Fook-shu Li Fook-shu, OBE, FCA, JP (; 30 May 1912 – 21 May 1995) was a Hong Kong businessman and politician. He was the chairman of the Bank of East Asia and unofficial member of the Executive Council and the Legislative Council. Biography Li was ...

, was a director of the

, an Unofficial member of the

Legislative Council A legislative council is the legislature, or one of the legislative chambers, of a nation, colony, or subnational division such as a province or state. It was commonly used to label unicameral or upper house legislative bodies in the Brit ...

and council member of the

Chinese University of Hong Kong The Chinese University of Hong Kong (CUHK) is a public university, public research university in Sha Tin, New Territories, Hong Kong. Established in 1963 as a federation of three university college, collegesChung Chi College, New Asia Coll ...

. Li's younger brother is

Arthur Li Kwok-cheung Arthur Li Kwok-cheung, GBM, GBS JP (; born 27 June 1945) is a Hong Kong doctor and politician. He is currently member of the Executive Council of the Hong Kong Special Administrative Region and the chairman of the Council of the Univers ...

, former

Secretary for Education and Manpower The Secretary for Education is a principal official in the Hong Kong Government, who heads the Education Bureau (EDB). The current office holder is Christine Choi. History The position of Secretary for Education and Manpower was set up in ...

and Chairman of the Council of the University of Hong Kong. David's cousins include the Hong Kong Court of Final Appeal's first Chief Justice Andrew Li Kwok-nang. One of his uncles is the late Simon Li Fook-sean, a senior judge who ran in the first election for chief executive in 1996, whose daughter is prominent democrat, barrister

Gladys Li Gladys Veronica Li, QC, SC (; born 1948), is a Barrister in England, a Senior Counsel at the Hong Kong Bar with a constitutional law and human rights practice, and a founding member of the Hong Kong Civic Party. Career Li began to take an int ...

, and another the late Ronald Li Fook-siu, the disgraced former chairman of the

Hong Kong Stock Exchange The Stock Exchange of Hong Kong (, SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. It is one of the largest stock exchanges in Asia and the List of major stock exchanges, 9th largest globally by market ...

Education

Li was educated at

Uppingham School Uppingham School is a public school (English fee-charging boarding and day school for pupils 13–18) in Uppingham, Rutland, England, founded in 1584 by Robert Johnson, the Archdeacon of Leicester, who also established Oakham School. ...

in the United Kingdom. He studied mathematics at

Imperial College London Imperial College London, also known as Imperial, is a Public university, public research university in London, England. Its history began with Prince Albert of Saxe-Coburg and Gotha, Prince Albert, husband of Queen Victoria, who envisioned a Al ...

, and then studied economics and law at Selwyn College,

University of Cambridge The University of Cambridge is a Public university, public collegiate university, collegiate research university in Cambridge, England. Founded in 1209, the University of Cambridge is the List of oldest universities in continuous operation, wo ...

. He received an honorary doctorate in law from the

University of Warwick The University of Warwick ( ; abbreviated as ''Warw.'' in post-nominal letters) is a public research university on the outskirts of Coventry between the West Midlands and Warwickshire, England. The university was founded in 1965 as part of ...

in July 1994 and another one from the

in March 1996. In November 1996, he received an honorary doctorate of social sciences from

Lingnan College Lingnan University a public research university located in Tuen Mun, New Territories, Hong Kong. Lingnan University has 3 faculties, 3 Schools, 16 departments, 2 language centres, and 2 units (science and music), offering 29 degree honours ...

. Li joined the Bank of East Asia in 1969, becoming Chief Executive in 1981 and Chairman in 1997.

Political and academic positions

Li was a member of the

, elected unopposed in the Finance

functional constituency A functional constituency is an electoral device (a non-geographical constituency) used within the political systems of two Special Administrative Regions of the People's Republic of China: * Functional constituency in Hong Kong * Indirectly el ...

2004 2004 was designated as an International Year of Rice by the United Nations, and the International Year to Commemorate the Struggle Against Slavery and Its Abolition (by UNESCO). Events January * January 3 – Flash Airlines Flight 60 ...

and

2008 2008 was designated as: *International Year of Languages *International Year of Planet Earth *International Year of the Potato *International Year of Sanitation The Great Recession, a worldwide recession which began in 2007, continued throu ...

. From October 2005 until his resignation in February 2008, he was a member of the Executive Council, appointed after renouncing his

British citizenship The primary law governing nationality in the United Kingdom is the British Nationality Act 1981, which came into force on 1 January 1983. Regulations apply to the British Islands, which include the UK itself (England, Wales, Scotland, and Nor ...

. He is currently

Pro-Chancellor A pro-chancellor is an officer of some universities in Commonwealth countries. The pro-chancellor acts as a deputy to the chancellor and as practical chairman of the university council. In this role, a pro-chancellor may fulfil a number of for ...

of the

Board memberships

Li is also a director at several Hong Kong listed companies including fixed line phone carrier

PCCW PCCW Limited (formerly known as Pacific Century CyberWorks Limited) is a Hong Kong–based information and communication technology (ICT) and telecommunications company. The company is the major owner of telecommunications company HKT Limited, ...

SCMP Group The ''South China Morning Post'' (''SCMP''), with its Sunday edition, the ''Sunday Morning Post'', is a Hong Kong-based English-language newspaper owned by Alibaba Group. Founded in 1903 by Tse Tsan-tai and Alfred Cunningham, it has remained ...

and Hong Kong and Shanghai Hotels. In addition, he is chairman of the Chinese Banks Association Ltd.Nipa Piboontanasawat
"Hong Kong Banker David Li Quits City's Cabinet After SEC Payout"
Bloomberg, 17 February 2008

Legal issues

Dow Jones

On 1 May 2007,

News Corporation The original incarnation of News Corporation (abbreviated News Corp. and also variously known as News Corporation Limited) was an American Multinational corporation, multinational mass media corporation founded and controlled by media mogul Ru ...

made a public announcement of its bid for

Dow Jones & Company Dow Jones & Company, Inc. (also known simply as Dow Jones) is an American publishing firm owned by News Corp, and led by CEO Almar Latour. The company publishes ''The Wall Street Journal'', '' Barron's'', '' MarketWatch'', ''Mansion Global'' ...

. The

United States Securities and Exchange Commission The United States Securities and Exchange Commission (SEC) is an independent agencies of the United States government, independent agency of the United States federal government, created in the aftermath of the Wall Street crash of 1929. Its ...

filed an initial complaint seven days later naming Wong Kan-king and his wife Charlotte, both residents of Hong Kong, as defendants after its investigation of suspicious share price movements in the run-up to the announcement. The SEC alleged that the couple purchased 415,000 shares through a

Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated, doing business as Merrill, and previously branded Merrill Lynch, is an American investment management and wealth management division of Bank of America. Along with BofA Securities, the investm ...

Hong Kong account between 13 and 30 April,The News Corp-Dow Jones Insider Trading Case: A Significant Settlement
''SEC Actions'', 6 February 2008 and had reaped a US$8.2 million profit on disposal following announcement of the bid.Eric Dash and Andrew Ross Sorkin,
"Inquiry expected into possible Dow Jones insider trading"
''

International Herald Tribune The ''International Herald Tribune'' (''IHT'') was a daily English-language newspaper published in Paris, France, for international English-speaking readers. It published under the name ''International Herald Tribune'' starting in 1967, but its ...

'', 8 May 2007 The SEC later filed an amended complaint ("The First Amended Complaint") identifying the source of the information as David Li, who had obtained the information by being a board member of Dow Jones. The SEC alleged that Li had informed his close friend and business associate Michael Leung, who in turn told his daughter and son-in-law. The amended complaint added David Li and Michael Leung as co-defendants and details how Leung traded through the account of his daughter and son-in-law with their assistance.Benjamin Scent
"Li 'to pay $62m' to settle insider case"
, ''

The Standard The Standard may refer to: Entertainment * The Standard (band), an indie rock band from Portland, Oregon * ''The Standard'' (novel), a 1934 novel by the Austrian writer Alexander Lernet-Holenia * ''The Standard'' (Tommy Flanagan album), 1980 * ...

'', 29 January 2008 At the end of January 2008, a settlement was reached where Li was ordered to pay an $8.1 million civil penalty, Leung to pay $8.1 million in

disgorgement Disgorgement is the act of giving up something on demand or by legal compulsion, for example giving up profits that were obtained illegally. In United States regulatory law, disgorgement is often a civil remedy imposed by some regulatory agenci ...

and an $8.1 million penalty; K. K. Wong would pay $40,000 in disgorgement plus prejudgment interest and a $40,000 civil penalty. Li would neither admit nor deny any wrongdoing. Li's integrity is being questioned by Legislators, and corporate gadfly David Webb was the first to put Li under pressure to relinquish his position as a member of both the Legislative and the Executive Councils of Hong Kong because of his implication in the affair. Several other legislators added to the pressure for Li to relinquish his cabinet (Exco) position, although there are divergent views on his continued LegCo membership. On 17 February 2008, Li announced his resignation from Exco.

Donald Tsang Yam-kuen

In January 2017, prosecutors claimed that, in July 2010, Li had assisted the then

Chief Executive of the Hong Kong Special Administrative Region The chief executive of the Hong Kong Special Administrative Region is the representative of the Hong Kong Special Administrative Region and head of the Government of Hong Kong. The position was created to replace the office of Governor of ...

Donald Tsang Sir Donald Tsang Yam-kuen (; born 7 October 1944) is a former Hong Kong civil servant who served as the second Chief Executive of Hong Kong from 2005 to 2012. Tsang joined the colonial civil service as an Executive Officer in 1967, occupyi ...

Yam-kuen (through Tsang's wife) in the latter's attempt to cover up an alleged corrupt deal to secure a super-luxury apartment in Shenzhen, by drawing a HK$350,000 cash cheque and passing the money to Tsang's wife.

Awards and recognition

Li was appointed an

Officer of the Order of the British Empire The Most Excellent Order of the British Empire is a British order of chivalry, rewarding valuable service in a wide range of useful activities. It comprises five classes of awards across both civil and military divisions, the most senior two o ...

in the 1991

New Year Honours The New Year Honours is a part of the British honours system, with New Year's Day, 1 January, being marked by naming new members of orders of chivalry and recipients of other official honours. A number of other Commonwealth realms also mark this ...

. In 2001, he was awarded the

Gold Bauhinia Star The Gold Bauhinia Star (, GBS) is the highest rank in Order of the Bauhinia Star, under the Order (distinction), honours system of Hong Kong, created in 1997 to replace the British honours system after the Handover of Hong Kong, transfer of sovere ...

by the

government of Hong Kong The Government of the Hong Kong Special Administrative Region (commonly known as the Hong Kong Government or HKSAR Government) is the executive authorities of Hong Kong. It was established on 1 July 1997, following the handover of Hong Kong. ...

. In the 2005

Queen's Birthday Honours The Birthday Honours, in some Commonwealth realms, mark the King's Official Birthday, reigning monarch's official birthday in each realm by granting various individuals appointment into Order (honour), national or Dynastic order of knighthood, dy ...

, he was made a

Knight Bachelor The title of Knight Bachelor is the basic rank granted to a man who has been knighted by the monarch but not inducted as a member of one of the organised Order of chivalry, orders of chivalry; it is a part of the Orders, decorations, and medals ...

by the United Kingdom for his contributions to British education. He also has

honorary doctorate An honorary degree is an academic degree for which a university (or other degree-awarding institution) has waived all of the usual requirements. It is also known by the Latin phrases ''honoris causa'' ("for the sake of the honour") or '' ad hon ...

s from the

,"LegCo Members' Biographies"

the University of Hong Kong The University of Hong Kong (HKU) is a public university, public research university in Pokfulam, Hong Kong. It was founded in 1887 as the Hong Kong College of Medicine for Chinese by the London Missionary Society and formally established as t ...

and

the Chinese University of Hong Kong The Chinese University of Hong Kong (CUHK) is a public university, public research university in Sha Tin, New Territories, Hong Kong. Established in 1963 as a federation of three university college, collegesChung Chi College, New Asia Coll ...

. Li was awarded the

Grand Bauhinia Medal The Grand Bauhinia Medal () is the highest award under the Decorations and medals of Hong Kong, Hong Kong honours and awards system; it is to recognise the selected person's lifelong and highly significant contribution to the well-being of Hong ...

in 2007.

References

External links

David Li biodata at the Legislative Council of Hong Kong website
{{DEFAULTSORT:Li, David 1939 births Alumni of Selwyn College, Cambridge Alumni of the University of Warwick Honorary Fellows of Selwyn College, Cambridge Hong Kong billionaires Hong Kong bankers Hong Kong chief executives Knights Bachelor Living people Members of the Executive Council of Hong Kong Officers of the Order of the British Empire People educated at Uppingham School Recipients of the Gold Bauhinia Star Recipients of the Grand Bauhinia Medal Bankers from London Members of the Provisional Legislative Council Hong Kong Anglicans HK LegCo Members 1985–1988 HK LegCo Members 1988–1991 HK LegCo Members 1991–1995 HK LegCo Members 1995–1997 HK LegCo Members 1998–2000 HK LegCo Members 2000–2004 HK LegCo Members 2004–2008 HK LegCo Members 2008–2012 Members of the Preparatory Committee for the Hong Kong Special Administrative Region Hong Kong Basic Law Drafting Committee members Hong Kong Affairs Advisors Members of the Selection Committee of Hong Kong Li family (Hong Kong) Hong Kong justices of the peace 21st-century Hong Kong businesspeople Hong Kong chairpersons of corporations Businesspeople awarded knighthoods