PCCW appoints former JP Morgan official Frederick Ma as executive director

HONG KONG (AFX-ASIA) - Pacific Century CyberWorks Ltd said it has appointed former JP Morgan executive Frederick S. Ma as its executive director effective May 2.In a statement, the company said Ma will be responsible for the financial performance and strategic direction of the group.PCCW executive chairman Richard Li has transferred 7.749 mln PCCW shares held by Pacific Century Group Holdings Ltd to a company owned by Ma and his wife.Li owns Pacific Century Group Holdings, the statement added.PCCW said the company did not issue new shares nor did it bear any portion of the cost of the shares transferred to Ma.Ma has indicated that he will hold the PCCW shares as a long-term investment.Ma is a member of the Growth Enterprise Market's listing committee. He is also a member of the Takeovers and Mergers Panel of the Hong Kong Securities and Futures Commission, the statement added. 

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