The Board of Directors of SIX has announced strategic and organizational changes. SIX will focus on infrastructure services for its shareholders and the financial centre in securities, payments services and financial information. SIX will also launch a CHF 50 million venture fund and establish dedicated units to develop services to cover specific shareholder requirements.
Jos Dijsselhof, who will begin his role as CEO of SIX from the start of 2018, will succeed Urs Rüegsegger, who announced in May that he would step down.
The main elements of the realignment are:
- The bundling of all activities in the securities business. The merger of exchange trading and post-trading areas into one organizational unit, with all securities trading services now provided from a single source.
- The reorganization of the payments business. SIX is creating a competence centre for operations, development and greater innovation in Swiss payments. This will include the infrastructure for interbank payments, for connections to the SEPA region and for card-based and mobile payments. For e-bills and direct debits, the collaboration with PostFinance to standardize and bundle infrastructure will be continued.
- The card business (merchant acquiring and international card processing) will be separated from the core organization and, with the aim of creating a leading European provider, further developed as part of a strategic partnership. Integration of the latest acquisitions (Aduno, VÖB- ZVD) will go ahead as planned.
- The consolidation of the strong market position of SIX in the data business, in particular in international reference data. SIX intends to utilize the resulting synergies to provide even better solutions to respond to the demand from banks for high quality at attractive conditions.
- The establishment of an innovation unit. Aside from bundling its own innovation projects, SIX will also establish a CHF 50 million venture fund to promote innovation within Switzerland's financial centre. This new innovation unit will also develop services to cover specific shareholders requirements, which can then be hived off in collaboration with the relevant shareholders.
These measures are due to be implemented in the second quarter of 2018.