Former JP Morgan Executive Appointed as CEO of Hong Kong Exchange

(Source: Giulia Marchi / Bloomberg)

[Asia Economy Reporter Yujin Cho] The Hong Kong Stock Exchange has appointed Nicholas Aguzin, former CEO of JPMorgan Chase's Asia-Pacific division, as its next CEO, Bloomberg reported on the 9th (local time).

Aguzin's official inauguration as CEO will be on May 24, with a term lasting until May 2024.

The Hong Kong Stock Exchange stated, "Aguzin's extensive experience in Hong Kong, mainland China, and the broader Asian and global capital markets is expected to greatly contribute to strengthening the competitiveness of the Hong Kong Stock Exchange."

Aguzin, originally from Argentina, joined JPMorgan in 1990 and served as CEO of the Asia-Pacific investment banking division from 2012 to 2020.

The report described this appointment of an external executive to a key management position as unusual, analyzing that it appears to be a move to reinforce Hong Kong's status as an Asian financial hub through a figure with an international finance background.

Concerns about a so-called "Hexit," referring to the departure of Western capital and talent that had been based in Hong Kong following the implementation of the National Security Law, are growing both inside and outside Hong Kong.

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