Local Bourse Names JP Morgan Executive As New CEO

Hong Kong Exchanges and Clearing announced on Tuesday the appointment of the CEO of JP Morgan’s international private bank, Nicolas Aguzin, as its new chief executive, making him the first expatriate to lead the local bourse on a permanent basis.

The chairman of the bourse operator, Laura Cha, hailed Aguzin as someone with a wealth of international and regional experience.

“As a highly respected and experienced executive, his broad experience in Greater China, the Americas and globally, makes him extremely well-placed to lead HKEX as we enter a post-Covid world,” said Cha in a statement.

Aguzin has been with JP Morgan for 30 years and served a number of leadership roles, including as the head of JP Morgan Asia.

He has been based in Hong Kong for the past nine years.

Aguzin touted the role of the local bourse as a catalyst between the mainland and the world, as global financial markets become increasingly interconnected.

“As China’s economy and capital markets continue to open, HKEX will become ever more relevant, facilitating anticipated significant new flows of capital, and supporting the strong demand for capital to fuel growth,” Aguzin said.

He is succeeding Charles Li, who had been at the helm for a decade and spearheaded the stock and bond connects between Hong Kong and the mainland, as well as a revamp of listing rules to allow initial public offerings by firms with weighted voting rights and pre-revenue biotech companies. 

Aguzin's appointment will take effect on May 24, for a term of three years, subject to the approval of the Securities and Futures Commission.