HKEX Appoints JP Morgan’s Nicolas Aguzin as CEO
The JP Morgan man has become an expert in China after nine years as he led the investment bank’s growth in China as the region’s chief executive officer.
Hong Kong Exchanges and Clearing Limited (HKEX) has appointed JP Morgan’s Nicolas Aguzin as Chief Executive of HKEX, who will also become an ex-officio member of the Board.
Mr Aguzin will join HKEX from JP Morgan, where he is currently Chief Executive Officer of JP Morgan’s International Private Bank and a member of the Operating Committee for the firm’s asset and wealth management business. He will officially start on 24 May 2021 for a term of three years until 23 May 2024, subject to the approval of Hong Kong’s SFC.
From 2012 to 2020, the JP Morgan man led the US multinational investment bank in the APAC region as chief executive, with a focus on the firm’s growth in China. Prior to that, he held a number of roles during his 30 years with the firm, including Head of Investment Banking, Asia Pacific from 2015 to 2019, and as CEO of JP Morgan Latin America from 2005 to 2012.
HKEX will make use of his wealth of international and regional experience, including extensive knowledge of Mainland China. “This will be invaluable to us as we continue to build our business’ success, as well as drive the ongoing growth and development of Hong Kong as a leading international financial center”, said Laura M Cha, HKEX Chairman.
“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, with the many opportunities and challenges that this will bring. Mr Aguzin’s skills and expertise will help us drive forward our strategy, utilizing our deep China experience, but also reinforcing our international reach and relevance. Strong leadership, integrity, excellent relationships and a global outlook will be defining factors in our, and our markets’, long-term success and we look forward to welcoming Nicolas to HKEX as we continue to Connect China, Connect the World”, Cha added.
Nicolas Aguzin, Chief Executive-designate of HKEX, commented on the appointment: “I am deeply honored to be asked to lead the world’s largest stock market group, especially at such an important time for global financial markets. In recent years,
The role of HKEX in defining the evolution of Asian finance has become invaluable as it also leads the world in the IPO scene. Aguzin noted that importance in his comment: “HKEX has a critical role to play in the evolution of strong, resilient and interconnected global financial markets. 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, acting as a catalyst that connects China with the world, and the world with China. I am optimistic and energized for the future and believe that with Calvin and my new colleagues, we have a unique opportunity to help drive and deliver our collective global prosperity.”
Aguzin’s expertise in the trading industry and China will likely be key to the exchange as it continues to drive forward its strategy to be China Anchored, Globally Connected, and Technology Empowered.