The Hong Kong Stock Exchange (HKEX) has appointed its first female chief executive.
Bonnie Chan, currently co-chief operating officer, will take over from the departing Nicholas Aguzin in May 2024.
Aguzin, a former banker with JP Morgan and Argentine national, was the exchange’s first overseas CEO appointed in May 2021.
During his tenure, Aguzin oversaw the implementation of several strategic initiatives, including the opening of offices in new York and London in a bid to promote the exchange’s international credentials. He also launched HKEX’s first digital assets division.
However, Aguzin’s time at the exchange was complicated by the after-effects of the pandemic and a slowdown in China’s equities market. Consequently, HKEX’s share price dropped by 40% during Aguzin’s time at the helm and fell behind the likes of CME and Intercontinental Exchange in terms of the value of its public listings.
“As the world pivots east, as exciting developments in new technologies and ways of working evolve and as we work together to address major challenges such as climate change and a fragile global economic backdrop, the opportunities for HKEX remain immense,” said Chan.
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