Hong Kong Exchanges and Clearing Limited (HKEX) is pleased to announce today (Tuesday) the opening of its New York office, expanding the exchange group's international footprint and supporting its growing global client base. Headed by Roger McAvoy, Managing Director and Head of Business Development, North America, the New York office will provide an on-the-ground dedicated team for HKEX's North American customers. The new office will promote HKEX's liquid primary and secondary cash markets, its exclusive connectivity with Mainland China's markets and its diverse suite of derivatives, which together constitute Asia Pacific's most comprehensive financial market ecosystem.
Hong Kong is Asia Pacific's leading international trading, investment and risk management centre, and having a physical presence in New York, the financial capital of North America and one of the great international cities of the world, will support HKEX's ongoing commitment to global connectivity. In his new role, Mr McAvoy will continue to report to HKEX Co-Head of Sales and Marketing, Kevin Rideout. HKEX Chief Executive Officer Nicolas Aguzin said: "At HKEX, we are fully focused on supporting the growth ambitions of our customers around the globe, and I am therefore today delighted to announce the opening of our New York office.
We look forward to deepening our relationships with investors, companies and risk managers across the region, connecting capital with opportunities and East with West. I am confident the office will play a vital role as we continue to build the vibrancy and attractiveness of our markets and our unique China Connect programmes." Mr Aguzin added: "I am also delighted Roger will be leading our engagement in North America, having already done exemplary work in building our franchise in Southeast Asia over the past five years as head of our Singapore office. I have every confidence that he, together with the broader HKEX team, will be successful in supporting our global customers and driving new investors and companies to Hong Kong, the region's premier international financial centre." Operating as HKEX (U.S.) LLC, the New York office will build out its team over the coming months, making it easier for HKEX to connect with investors, market participants and their intermediaries during their own working day and enabling the group to build stronger relationships with its regional clients.
The new New York office will complement HKEX's existing international reach from its offices in Shanghai, Beijing, and Singapore. HKEX is also continuing with its plans to open a European office. Further details will be announced in due course.
APPENDIX International investors account for around 41% of Hong Kong's cash equities market trading turnover, with US investors accounting for 10% of total turnover Hong Kong is one of Asia's biggest listing venues for new economy and biotech companies HKEX has a unique cash and derivatives product ecosystem with underlying in Greater China, Asia Pacific and beyond, including a vast suite of futures and options products that track Hang Seng and MSCI indexes Over 70% of all international investments into China's A-share equities market are held via HKEX's Stock Connect programme, which provides international investors with exclusive and reliable access to the A-share market HKEX's Connect infrastructure continues to develop: international companies that primary list in Hong Kong will soon have direct access to Mainland China investors, providing another compelling reason for a Hong Kong listing Roger McAvoy Managing Director HKEX Head of Business Development - North America Roger McAvoy joined HKEX in August 2017 and currently heads up its corporate subsidiary, HKEX (U.S.) LLC, in charge of business development for North America. Prior to this role, Mr McAvoy helped launch HKEX's Singapore office as Head of ASEAN Business Development, responsible for education and marketing of HKEX markets, products, and services to clients in that region. Before joining HKEX, he was responsible for Asia institutional sales and relationship management at Deutsche Boerse's 360T OTC FX electronic trading and data analytics platform.
In prior roles, he led MSCI's Equity Index Benchmark Data and Portfolio Management Analytics businesses in Asia Pacific and the EMEA regions, and had spent his earlier career leading institutional client coverage and commercial product management teams at Thomson Financial and Tradeweb. Mr McAvoy holds a Bachelor of Arts in Economics from Boston College, and a Masters of Business Administration from the New York Institute of Technology. About HKEX Hong Kong Exchanges and Clearing Limited (HKEX) is a publicly-traded company (HKEX Stock Code:388) and one of the world's leading global exchange groups, offering a range of equity, derivative, commodity, fixed income and other financial markets, products and services, including the London Metals Exchange.
As a superconnector and gateway between East and West, HKEX facilitates the two-way flow of capital, ideas and dialogue between China and the rest of world, through its pioneering Connect schemes, increasingly diversified product ecosystem and its deep, liquid and international markets. HKEX is a purpose-led organisation which, across its business and through the work of HKEX Foundation, seeks to connect, promote and progress its markets and the communities it supports for the prosperity of all. URL Ends