People Moves

JP Morgan's International PB Head To Lead Hong Hong Stock Exchange

Tom Burroughes, Group Editor, 10 February 2021

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As part of the change, Martin Marron, CEO of the Latin America Private Bank and JP Morgan Latin America & Canada, will become CEO of the international private bank. His predecessor is leaving to head HKEX.

The head of JP Morgan’s international private bank for the past two years, Nicolas Aguzin – known to many as “Gucho” – is leaving the US group to be chief executive of Hong Kong Exchanges and Clearing (HKEX). Aguzin, subject to regulatory approval, will become CEO of the exchange as of 24 May.

Aguzin has worked for three decades at JP Morgan, serving in a variety of roles, including asset and wealth management, spending time in the Asia-Pacific and Latin American markets.

“Gucho is an outstanding leader and human being who has led businesses around the world for JP Morgan Chase with distinction over the past three decades. While we’re disappointed he is leaving us, we thank him for his many accomplishments at our company and wish him all the best,” Jamie Dimon, the bank’s group CEO, said in a memo seen by this publication. 

Replacement 
Martin Marron, CEO of the Latin America Private Bank and JP Morgan Latin America & Canada, will become CEO of the international private bank. 

In his nearly 30 years with the firm, Marron has been a fixed income trader, led the corporate and investment bank’s external sovereign debt and local markets teams in Argentina and Brazil, served as senior country officer of Brazil, he oversaw emerging markets Americas sales and trading, and led Latin America investment banking. 

“We are delighted to announce the appointment of Mr Aguzin as the new chief executive of HKEX. He brings with him a wealth of international and regional experience in capital markets and financial services, including extensive knowledge of Mainland China, having served as chief executive for JP Morgan in Asia. This will be invaluable to us as we continue to build our business’ success, as well as drive the ongoing growth and development of Hong Kong as a leading international financial centre," Laura M Cha, chair of the exchange, said in a statement.

“As a highly respected and experienced executive, his broad experience in Greater China, the Americas and globally, makes him extremely well-placed to lead HKEX as we enter a post-COVID world, with the many opportunities and challenges that this will bring. Mr Aguzin’s skills and expertise will help us drive forward our strategy, utilising our deep China experience, but also reinforcing our international reach and relevance. Strong leadership, integrity, excellent relationships and a global outlook will be defining factors in our, and our markets’ long term success, and we look forward to welcoming Nicolas to HKEX as we continue to Connect China, Connect the World."

She thanked Calvin Tai for his "excellent stewardship this year, and for his continuing commitment to our business and support of markets and our community."

Calvin Tai Chi Kin has replaced Charles Li Xiaojia as its new interim chief executive, effective from 1 January 2021. Calvin Tai Chi Kin had been named KHEX’s interim CEO, taking over over from Charles Li Xiaojia.

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