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Exclusive | Hong Kong markets watchdog to vet JPMorgan banker Nicolas Aguzin before greenlighting him as HKEX’s next CEO, source says
- The SFC will review the candidate to check if he is a “fit and proper” person to run the exchange
- The markets watchdog has not set an end date for the background checks
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Hong Kong’s Securities and Futures Commission (SFC) will conduct background checks on JPMorgan Chase & Co banker Nicolas Aguzin before deciding whether to approve his appointment as chief executive of the world’s most valuable bourse operator, according to a person familiar with the deliberations.
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The SFC’s 14-member board of directors met on Wednesday to discuss Hong Kong Exchanges and Clearing Limited’s (HKEX) choice for their next leader and decided to tell the city’s government it would conduct due diligence on Aguzin, the person familiar said.
The SFC will review the candidate to check if he is a “fit and proper” person to run the exchange, including his work experience and background. During the unscheduled meeting, the regulator did not set an end date for the background checks.
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HKEX named Argentinian national Aguzin as its next CEO on Tuesday, the first non-ethnic Chinese to step into the role, underscoring the bourse’s ambition to be an international financial hub even as Beijing’s influence spreads across the city. As CEO of the city’s bourse, Aguzin will need to carefully balance the exchange’s desire to expand globally and attract overseas companies to list in Hong Kong with policy directions emanating from Beijing.
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