The chief executive of JP Morgan’s private bank business, Nicolas Aguzin, is set to become the new CEO of Hong Kong Exchanges and Clearing (HKEX).
Aguzin will serve a term of three years, from 24 May this year until 23 May 2024, subject to the approval from the Securities and Futures Commission.
He replaces former HKEX chief executive officer, Charles Li, who confirmed in May last year that he will retire early after 12 years leading the exchange group.
Aguzin joins HKEX as chief executive officer after 30 years at JP Morgan, most recently serving as chief executive officer of its international private bank. Prior to this role, he was chief executive officer of JP Morgan Asia Pacific for eight years where he oversaw the investment bank’s growth into China.
Since joining JP Morgan in 1990 he also held several other senior leadership roles including head of investment banking for Asia Pacific from 2015 to 2019, and chief executive officer for the Latin America business from 2005 to 2012.
“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,” said Laura M Cha, HKEX chairman.
“Mr Aguzin’s skills and expertise will help us drive forward our strategy, utilising our deep China experience, but also reinforcing our international reach and relevance.”
Calvin Tai who has been interim chief executive officer since December last year will resume his roles as co-president and chief operating officer of HKEX.