PEOPLE MOVES: HKEX hires JP Morgan’s Aguzin as CEO after Li’s retirement

Hong Kong Exchanges & Clearing Limited (HKEX) has appointed Alejandro Nicolas Aguzin as its new chief executive officer, effective May 24, 2021.

Aguzin will serve a term of three years until May 23, 2024, subject to the approval of the Securities and Futures Commission.

Aguzin will also become an ex-officio member of the HKEX board of directors on the same day.

HKEX is the owner of the London Metal Exchange, which it acquired in 2012.

Aguzin 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 joined JP Morgan in 1990 and was chairman and CEO for the Asia Pacific Region from 2012 to 2020.

“HKEX has a critical role to play in the evolution of strong, resilient and interconnected global financial markets,” Aguzin said.

“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 added.

The appointment comes after Charles Li stepped down as CEO at the end of 2020 after more than a decade in the role.

He had previously announced that he would not seek renewal at the end of his term and was due to leave in October 2021, but later decided to retire early.

Calvin Tai took over as interim CEO of HKEX effective January 1, 2021. He will cease this role on May 23 and continue his roles as co-president and chief operating officer of HKEX.

“We are delighted to announce the appointment of 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,” Laura Cha, HKEX chairman, said.

“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,” she added.

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