Nicolas Aguzin will get US$13.67 million in salary and shares, as incoming HKEX chief becomes one of the highest paid regulators

The former JPMorgan banker will get a HK$10 million basic salary and shares worth HK$96.05 million as of Friday’s closing price

If he receives a bonus, his pay may well surpass that of his predecessor Charles Li Xiaojia, who took home HK$120.49 million in 2020

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Aguzin will make history as the first non-Chinese person to be chief executive of the HKEX since its establishment in 2000. Photo: Bloomberg

Published: 9:00pm, 21 May 2021Updated: 11:33pm, 21 May 2021

The new boss of Hong Kong’s stock exchange, Nicolas Aguzin, will become the highest paid regulator in the city with a total pay package of at least HK$106.05 million (US$13.67 million) when he takes office on Monday.

Hong Kong Exchanges and Clearing (HKEX)’s incoming chief executive will receive a HK$10 million basic salary, which is 7.4 per cent higher than his predecessor Charles Li Xiaojia’s HK$9.315 million, the exchange announced on Friday. He will serve a term of three years.

The former JPMorgan banker will also be awarded 211,756 shares of HKEX, worth HK$96.05 million as of Friday’s close at HK$453.6 per share. The shares will vest equally in the next two years, meaning half will become cashable after one year of service and half after his second.

The exchange said the shares are “compensation for loss of unvested long-term incentives earned through his service with his previous employer”.

Known affectionately as “Gucho” to his colleagues, the 52-year-old Argentinian has spent three decades at JPMorgan and was most recently chief executive of its international private bank and a member of the operating committee overseeing the lender’s asset and wealth management operations.

HKEX said he will get other benefits including a discretionary bonus and more shares based on his performance.