JPMorgan Chase Executive to Head Hong Kong Bourse From May
What’s new: Nicolas Aguzin, CEO of JPMorgan Chase and Co.’s International Private Bank, will take office as chief executive of Hong Kong Exchanges and Clearing Ltd. (HKEX) from May 24 for a term of three years, according to an announcement by the exchange operator on Tuesday.
Aguzin will be HKEX’s first chief executive of non-Chinese origin, as it eyes his international experience in an effort to rebuild foreign investors’ confidence in the Asia financial hub, sources close to the bourse told Caixin.
Aguzin’s expertise will help as HKEX continues to drive forward its strategy to be “China Anchored, Globally Connected, and Technology Empowered,” the company said in the announcement.
The background: Aguzin has worked at JPMorgan for three decades, including serving as CEO of JPMorgan Asia Pacific from 2012 to 2020. He will fill the vacancy left by Charles Li, HKEX’s longest-serving head in two decades who stepped down at the end of 2020.
In recent years, Hong Kong’s economy has been doubly hit by social protests and the Covid-19 pandemic, which have shattered foreign investors’ confidence. HKEX has been working to attract foreign companies to list in Hong Kong, as the majority of listed firms there are from the Chinese mainland.
Quick Takes are condensed versions of China-related stories for fast news you can use. To read the full Caixin article in Chinese, click here.
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