Asia moves: HKEX names new CEO, BNY Mellon appoints Japan country executive, and more

Hong Kong Exchanges and Clearing has named Alejandro Nicolas Aguzin as its new chief executive, to replace Charles Li who is stepping down after 10 years in the role. Aguzin joins from JP Morgan, where he is currently chief executive officer (CEO) of JP Morgan’s international private bank and a member of the operating committee for the firm’s asset and wealth management business. 

Aguzin has been with the US bank since 1990 in a variety of senior management roles across various jurisdictions. Between 2012 and 2020, Aguzin was CEO for Asia-Pacific, where he oversaw and led JP Morgan’s growth in China and the broader region. Aguzin has also served as head of investment banking for Asia and CEO of JP Morgan Latin America. 

Aguzin will be the first non-Chinese executive to head the bourse. He will continue to be based in Hong Kong, where he has been for the past nine years. Aguzin’s appointment will be effective from May 24, for an initial three-year term.

BNY Mellon has appointed Mark Militello as Japan country executive, subject to regulatory approval. Militello is currently BNY Mellon’s Asia-Pacific head of markets and clearance and collateral management, a position that he will continue to hold in his new role. 

Militello began his career at Morgan Stanley in New York before moving to Japan in 1987. He spent some time at Lehman Brothers in Japan before joining Shinsei Bank, where he held various senior roles, including as chief operating officer of the institutional bank and co-head of corporate banking. 

Militello succeeds Doug Hymas, who will be leaving the company.

HSBC has made a number of key appointments to its wealth and personal banking investment business in Asia. Fan Cheuk Wan will become chief investment officer of Asia. Patrick Ho will become chief investment officer of North Asia. James Cheo will become chief investment officer, of South-east Asia. These are all newly created positions. 

Wan joined HSBC Private Banking in 2016 as head of investment strategy for Asia and later assumed the role of chief market strategist for Asia. Prior to this, Wan spent nine years at Credit Suisse Private Banking in various roles, including chief investment officer for Asia and head of research for Asia. Wan has also worked at ABN Amro, Cazenove Asia, BNP Peregrine Securities and Standard Chartered Securities. 

Ho joined HSBC as chief market strategist for North Asia in 2017. Prior to this he held a number of senior roles at Credit Suisse Private Banking and UBS Wealth Management. He has also worked at Bear Stearns, BNP Paribas and other brokers. 

Cheo has more than 16 years of experience in portfolio strategy, asset allocation and economic research. Prior to re-joining HSBC in 2019, he was senior investment strategist at Bank of Singapore, responsible for asset allocation and thematic research. 

Cheo previously held investment strategist roles at HSBC Private Banking and Barclays Wealth Asia.

Munich Re has made two senior leadership changes to its life and health business in Asia. Aravind Srinivas will become managing director of the group’s South-east Asia business. He will replace Tobias Frenz, who will head up a newly formed business unit called Digital Solutions. 

Srinivas was previously chief commercial officer of Munich Re’s life, health and high-net-worth business in the region. 

Before moving to Singapore in 2015, Srinivas was head of client pricing for Munich Re Australasia. He has more than 15 years’ experience in the life insurance industry. 

Frenz has been with Munich Re for 19 years, having worked in Germany, the United Arab Emirates, Malaysia and Singapore in various client management and senior leadership roles.

Global asset management firm T Rowe Price has appointed Jacquie Arnott to lead its wholesale and family office distribution for Australia and New Zealand. Arnott has more than 12 years of experience at global financial institutions in a range of relationship management roles. 

Prior to joining T Rowe Price in 2015, Arnott worked for Julius Baer Private Bank and Merrill Lynch Wealth Management in London and Los Angeles. Arnott will continue to remain in
Sydney, reporting to Jonathon Ross, head of intermediary Australia and New Zealand.

T Rowe Price has also appointed Dai Wang to lead a new research office in Shanghai that it has just opened. Wang joined has worked as a research analyst at the firm since 2014.

Pimco has appointed Alec Kersman as its new head of Asia, following the announcement that the current head, Kimberley Stafford, will be returning to the US as global head of its product strategy group. 

Kersman is currently head of strategic accounts in US global wealth management. Both Stafford and Kersman will report to Pimco chief executive Emmanuel Roman.