Hong Kong Exchange and Clearing’s new chief reiterated the city’s role in China’s market opening and underlined the bourse’s focus on sustainability.
In his second day on the job, HKEX chief executive Nicolas Aguzin expressed confidence in Hong Kong's outlook as a continued gateway to China.
«Hong Kong has a key role to play as China continues opening up its market,» according to an «SCMP» report citing Aguzin in a webcast organized by HKEX unit London Metal Exchange (LME).
«Hong Kong has a sound regulatory [environment], rule of law, free flow of information and capital, [and] can play an important role as a gateway for international investors finding opportunities in Asia and China.»
Sustainability Focus
Another key area of focus Aguzin highlighted was sustainability with LME launching several new products.
Three scrap metal contracts and one lithium hydroxide contract will be rolled out alongside a digital credential register to certify sustainability credentials for various metal contracts.
«During the post-pandemic recovery process, sustainable investment would be a focus,» he said. «HKEX and LME will play important roles in this journey.»
«My Nickname is Gucho»
Hong Kong’s highest paid regulators – HK$106.05 million ($13.66 million) in salary and shares – also spoke about his South American heritage.
«My nickname is Gucho,» he said. «I come from Argentina, which is known for its wine, steak, football and tango, but it is also a place with a lot of natural resources.»
Internal Tasks
In addition to Chinese linkages and sustainability, Aguzin has reportedly been tasked with reviewing internal practices after a bribery scandal led regulators to condemn HKEX and call for stronger barriers to prevent conflicts of interest.
According to the «Bloomberg» report citing unnamed sources, Aguzin has won the confidence of HKEX chairman Laura Cha Shih May-lung to force a cultural shakeup because of hits background at a heavily regulated bank – the Argentinian was previously the head of J.P. Morgan’s international private bank.
