Alejandro Nicolas Aguzin has been appointed as chief executive of Hong Kong's exchange with effect from Monday, receiving nearly HK$100 million worth of share award over the next two years.
The job offers a basic salary of HK$10 million per year with a term of three years until May 23, 2024.
The new boss is also eligible to receive performance-related discretionary bonuses and share awards.
Aguzin will be awarded 211,756 shares in Hong Kong Exchanges and Clearing (0388) under its Employees’ Share Award Scheme, of which 50 percent will vest on the first anniversary of the date of grant and the remaining 50 percent on the second anniversary of the date of grant, as compensation for loss of unvested long-term incentives earned through his service with his previous employer.
The shares worths around HK$96.05 million, based on the closing price at HK$453.60 on Friday.
Aguzin was chief executive of JPMorgan Chase & Co Asia Pacific region from 2013 to 2020 and a director of J.P. Morgan Securities (Asia Pacific) from June 2014 to March 2020.
He was not personally subject to any investigation process, disciplinary action, or public reprimand by the Securities and Futures Commission, the Hong Kong Monetary Authority, or other competent authorities in respect of any of these matters, the announcement said.
Meanwhile, Calvin Tai Chi-kin will step down from the role of interim chief executive on May 23, 2021.
He continues in his roles as co-president and chief operating officer of HKEX.
Alejandro Aguzin will get a basic salary of HK$10 million per year.
