Posted inPeople Moves

HKEX names new leadership team

Bonnie Chan will replace Nicolas Aguzin as the exchange’s first female chief executive officer.

The Board of Directors of Hong Kong Exchanges and Clearing Limited (HKEX) has appointed Chan Yiting, Bonnie as chief executive of HKEX, effective 24 May 2024, for a term of three years until 23 May 2027.

Her appointment has been approved by the Securities and Futures Commission (SFC), and she will also become an ex-officio member of the board on the same date.

Chan (main picture) replaces Nicolas Aguzin as CEO, who told the board that he will not seek reappointment at the end of his current contract in May 2024.

Chan has over 30 years of experience in legal and financial services. She joined HKEX as head of listing in January 2020 and is currently co-chief operating officer of HKEX. Prior to joining HKEX, she was a partner of Davis Polk & Wardwell LLP from 2010 to 2019, where she oversaw a wide portfolio of clients in Hong Kong and across Asia.

Before that, Chan was the head of IPO transactions, listing division, HKEX from 2007 to 2010. She has also served as a member of the Board of Inland Revenue of the Government of the Hong Kong Special Administrative Region and Financial Services Development Council and was an ex-officio member of the Standing Committee on Company Law Reform from 2020 to 2022.

“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, in a statement.

Aguzin departs

Chan’s predecessor, Aguzin, led efforts to promote HKEX internationally, opened new offices in New York and London and helped to deliver and enhance a series of products and platforms, including the growth in HKEX’s derivatives and ETF markets.

“The group’s unique strength is both its China and global connectivity and during my tenure we have been steadfast in ensuring that Hong Kong’s markets have remained relevant, connected and competitive, successfully supporting our customers and stakeholders around the world,” Aguzin said in a statement.

Other SFC-approved senior appointments include Yiu Ka Yan, Wilfred as deputy chief executive, and Lau Bik Yun, Vanessa as co-chief operating officer, who will both take on their new positions on 24 May 2024.

Yiu will also continue to act as the co-chief operating officer of HKEX, and will remain chief executive of both The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited, which are direct wholly owned subsidiaries of HKEX.

Yiu has over 25 years’ experience in international capital markets. Prior to joining HKEX, he was deputy chief executive officer and chief operating officer of Beijing Gao Hua Securities, a strategic partner of Goldman Sachs, and also chairman of Qian Kun Futures. Prior to this, Yiu was managing director, FICC at Goldman Sachs.

Meanwhile, Lau, in addition to her new role as co-chief operating officer of HKEX, will continue to act as the group chief financial officer of HKEX.

Lau has over 25 years’ experience in the financial services industry, and joined HKEX in October 2015 Previously she various senior financial positions with Sanford C. Bernstein (Hong Kong) from 2011 to 2015, Alcoa from 2007 to 2011 and prior to this, with McKinsey & Company and PricewaterhouseCoopers (UK). She is currently a non-executive director of Swiss Re.

Part of the Mark Allen Group.