The Securities and Futures Commission has approved the appointment of Nicolas Aguzin as chief executive of Hong Kong Exchanges and Clearing (0388), three weeks after the bourse operator announced he was chosen for the job.
The JP Morgan Chase banker's appointment is effective May 24 for a term of three years. He replaces Charles Li Xiaojia, also a former JPMorgan banker, who announced his resignation in May and left at the end of last year after a decade at the helm.
Aguzin is stepping into the role at a time when Beijing is asserting its grip on the financial hub and the bourse is riding a boom in big Chinese company listings and inflows of mainland cash.
In its search, the board had been split between picking a candidate who can operate with confidence in China or one with a strong international background, people familiar with the matter had said.
While not from Hong Kong, or mainland Chinese like his predecessor, Aguzin is well connected and known in the region after serving as JPMorgan's chairman and CEO of Asia Pacific from 2012 to 2020. Before that he led the bank in Latin America and held various senior investment banking roles after joining the US bank as a financial analyst in 1990.