ExclusiveHKEX considers opening offices in New York and London as it takes the battle for IPO fundraising to North America and Europe

The exchange that was established through a merger 22 years ago this month, said in May that it was planning for offices in North America and Europe. Several sources familiar with the matter narrowed the options down to New York and London, pending final decisions.

“We want to be more client-centric, so we want to be closer to our clients, and that is very, very important,” the exchange’s CEO Nicolas Aguzin said in an interview with South China Morning Post, confirming plans for a New York office but said there was no final decision yet on the location of its first European office.

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HKEX considers opening offices in US and Europe to court global listings

HKEX considers opening offices in US and Europe to court global listings

For the longer term, Aguzin said his dream was to have “have multiple offices, not only in Europe, but also in the Middle East, and Latin America as well. The purpose is to make sure that Hong Kong is an international centre to attract investors from all over the world.”

Aguzin said London was a “natural choice” in Europe, especially since it is the home of the London Metal Exchange (LME), which the HKEX bought in 2012 for £1.39 billion (US$1.71 billion/).

“It makes a lot of sense to be in London [because] we already have physical presence in London with the LME,” he said. “However, we want to assess what the alternatives are. How can we leverage all the different investors that are in Europe?”

HKEX, the world’s fourth-largest financial exchange by value, already has offices in Singapore, Beijing and Shanghai. The expansion to North America and Europe underscores its search for diversification and growth, as it continues to serve as the landing pad for mainland China’s start-ups and companies.