In this Hong Kong name, the surname is Li. In accordance with Hong Kong custom, the Western-style name is David Li and the Chinese-style name is Li Kwok-po.
He received an honorary doctorate in law from the University of Warwick in July 1994 and another one from the University of Hong Kong in March 1996. In November 1996, he received an honorary doctorate of social sciences from Lingnan College.[5] Li joined the Bank of East Asia in 1969, becoming Chief Executive in 1981 and Chairman in 1997.[6]
Li is also a director at several Hong Kong listed companies including fixed line phone carrier PCCW, SCMP Group and Hong Kong and Shanghai Hotels. In addition, he is chairman of the Chinese Banks Association Ltd.[7]
Legal issues
Dow Jones
On 1 May 2007, News Corporation made a public announcement of its bid for Dow Jones & Company. The United States Securities and Exchange Commission 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 Hong Kong account between 13 and 30 April,[8] and had reaped a US$8.2 million profit on disposal following announcement of the bid.[9]
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.[8][10]
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 and an $8.1 million penalty; K. K. Wong would pay $40,000 in disgorgement plus prejudgment interest and a $40,000 civil penalty.[8] Li would neither admit nor deny any wrongdoing.[10]
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.[11] Several other legislators added to the pressure for Li to relinquish his cabinet (Exco) position,[7][12] although there are divergent views on his continued LegCo membership.[13] On 17 February 2008, Li announced his resignation from Exco.[14]
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 RegionDonald Tsang 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.[15]
↑"No. 57665". The London Gazette (Supplement). 11 June 2005. p.2. Li is still entitled to use "Sir" before his name although he abandoned his British nationality a few months after being knighted.
