David Webb, prominent Hong Kong shareholder activist, dies at 60

Hong Kong financial markets lost a towering figure this week as David Webb, a relentless advocate for corporate transparency and shareholder rights, died at the age of 60 after a battle with metastatic prostate cancer.

Webb passed away peacefully in Hong Kong on Tuesday, January 13, 2026, according to a statement released on his social media accounts. “David will be missed by his family, his many friends, and his supporters,” the announcement said.

For nearly three decades, Webb stood as Hong Kong’s most prominent shareholder activist, transforming himself from investment banker to the territory’s foremost corporate governance watchdog. His influence in Asia’s financial hub extended far beyond traditional activism, as he meticulously documented corporate malpractice and advocated for systemic reforms in Hong Kong’s business landscape.

Webb’s most enduring contribution may be Webb-site.com, a nonprofit platform he founded in 1998 that became an indispensable resource for financial professionals, journalists, and investors. The free-to-access database provided comprehensive company statistics and analysis, empowering minority shareholders and pushing Hong Kong’s business community toward greater transparency.

“He did a lot for Hong Kong’s small investors,” former lawmaker Kenneth Leung told The Associated Press, describing Webb as sharp-minded and knowledgeable, albeit “a headache to some companies because of his work.”

Webb’s investigative prowess made headlines in 2017 when he exposed what he called the “Enigma Network,” a complex web of cross-shareholdings among dozens of Hong Kong-listed companies. His detailed analysis revealed previously undisclosed ties between these firms, triggering a criminal investigation and reinforcing his reputation as a formidable force for accountability in Hong Kong’s markets.

Born in London in 1965, Webb arrived in Hong Kong in the 1990s while working for Barclays and chose to make the city his permanent home. His institutional impact grew when he served as an independent director on the Hong Kong stock exchange board from 2003 to 2008, though his tenure ended in resignation after he publicly criticized the exchange’s management.

Last year, Webb’s decades of work were formally recognized when he was appointed as a Member of the Order of the British Empire for his contributions to raising corporate governance standards in Hong Kong.

Webb first disclosed his cancer diagnosis publicly in 2020, expressing hope to live beyond 60—a milestone he reached in August 2025. During a farewell event at the Foreign Correspondents’ Club in May last year, he reflected on his life’s work with characteristic frankness.

“However long or short my life, unfortunately, it’s shorter than I expected,” Webb said. “I will die confident that I did my best and Hong Kong is my home.”

Beyond corporate governance, Webb remained an outspoken commentator on Hong Kong’s changing political landscape. As the territory underwent significant political transformation following the implementation of Beijing’s national security law in 2020, Webb voiced concerns about what he perceived as increasing self-censorship among opinion writers and a shifting media environment.

Webb’s passing marks the end of an era for Hong Kong’s financial markets. His work came during a period of tremendous growth and evolution in the territory’s position as a global financial center, and his persistent advocacy helped shape stronger protections for investors during those crucial decades.

Financial analysts note that Webb’s legacy extends beyond his specific investigations—he helped establish a culture of accountability that continues to influence corporate behavior in Hong Kong and across the region. His methodical approach to uncovering corporate misconduct and his willingness to challenge powerful interests made him both respected and feared in boardrooms across the territory.

As Hong Kong’s financial community mourns his passing, Webb’s decades of advocacy serve as a reminder of how a single determined individual can drive meaningful change in market transparency and corporate accountability.