JP Morgan veteran named HKEX chief
Exchange operator cites Nicolas Aguzin’s ‘broad experience in Greater China, the Americas and globally’
9 Feb 2021 | The Asset
Nicolas Aguzin
Nicolas Aguzin

Hong Kong Exchanges and Clearing (HKEX) has named JP Morgan veteran Alejandro Nicolas Aguzin as its next chief executive, replacing Charles Li Xiaojia, the stock exchange operator announced on Tuesday (February 9).

His appointment, effective May 24, will be for a term of three years until May 23 2024, subject to the approval of the Securities and Futures Commission. He will also become an ex-officio member of the HKEX board of directors.

With Aguzin’s appointment, Calvin Tai will cease to be the interim chief executive and an ex-officio member of the board on May 23. He will remain as co-president and chief operating officer.

Aguzin joins HKEX from JP Morgan, where he is currently CEO of its international private bank and a member of the operating committee for the firm’s asset and wealth management business. Prior to this, from 2012 to 2020, Aguzin was CEO of JP Morgan Asia-Pacific, where he oversaw and led the firm’s growth in China and across the region.

Aguzin joined JP Morgan in 1990, and has held a number of leadership roles spanning lines of business and geographies during his 30 years with the firm, including as head of investment banking, Asia-Pacific, from 2015 to 2019, and as CEO of JP Morgan Latin America from 2005 to 2012. ‘

He holds a Bachelor of Science degree in Economics from the Wharton School of the University of Pennsylvania. He has been based in Hong Kong over the past nine years.

HKEX chairman Laura Cha comments: “We are delighted to announce the appointment of Mr Aguzin as the new chief executive of HKEX. He brings with him a wealth of international and regional experience in capital markets and financial services, including extensive knowledge of Mainland China, having served as chief executive for JP Morgan in Asia. 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 centre.

“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.”

For his part, Aguzin says he is “deeply honoured” to be asked to lead the world’s largest stock market group and leading venue of initial public offerings.

“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,” he adds.