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Explainer | Who is Nicolas Aguzin, the former JPMorgan banker set to lead Hong Kong’s stock exchange operator?

  • Aguzin has spent his entire banking career, which spans 30 years, at JPMorgan
  • HKEX considered the Argentine’s nationality, which would save him from embarrassment should US-China relations worsen

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Nicolas Aguzin, the incoming CEO of Hong Kong’s stock exchange operator, in a 2017 interview. Photo: Handout
Enoch YiuandChad Bray
Hong Kong Exchanges and Clearing (HKEX), the operator of the city’s stock exchange, has named Nicolas Aguzin as its next chief executive (CEO) beginning in May. His appointment was approved by the Securities and Futures Commission on Tuesday, confirming it under the local law.
Aguzin is the latest former JPMorgan Chase banker to lead the world’s most valuable bourse operator and the first non-Chinese person to do so.
He replaces Charles Li Xiaojia, a former oil rig worker and journalist who rose to become JPMorgan’s China chairman before joining HKEX in 2010. Li announced his surprise retirement last May and stepped down in December. HKEX’s chief operating officer, Calvin Tai Chi-kin, now serves as interim CEO, until Aguzin is on board for a three-year term beginning May 24.

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Who is Aguzin?

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Aguzin, 52, is Argentinian by birth and a permanent resident of Hong Kong. He also holds a Croatian passport. He is fluent in English, Portuguese and Spanish, but not Mandarin.

He has spent his entire banking career – spanning 30 years – at the US investment bank. He joined JPMorgan in 1990 as a financial analyst after graduating with a bachelor’s degree in economics from The Wharton School of the University of Pennsylvania.

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Known affectionately as “Gucho” to his colleagues, Aguzin has served as the bank’s senior country officer in Brazil and CEO of JPMorgan Latin America. He led the bank’s sprawling Asia-Pacific business from 2012 until early 2020, and was most recently CEO of JPMorgan’s international private bank and a member of the operating committee overseeing the lender’s asset and wealth management operations.

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