SGX restructures organisation, Co-President resigns
First Published 28th March 2012
Singapore Exchange announces new organisation structure, Mr Gan Seow Ann resigns as Co-President, will stay on as Advisor
Gan Seow Ann, President, Singapore Exchange
"I believe SGX will continue to grow in strength and relevance as a trusted global market leader."
Singapore - Singapore Exchange (SGX) has announced a new organisation structure. From 1 May 2012, the organisation will have five Business Units which will be Derivatives, Listings, Market Data & Access, Post-Trade and Securities. The current Fixed Income business will become a part of the enlarged Securities unit while the Commodities business will be grouped within the enlarged Derivatives unit.
The Business Units, with the support of the Sales & Clients unit, aim to drive the expansion of the products and services suite, attractmore and larger listings, grow retail and professional participation and build post-trade business.
In addition, the Operations and Technology units will be aligned under a newly-created Chief Operations and Technology Officer role.
Mr Magnus Bocker, CEO, will assume direct responsibility for Listings and Sales & Clients. Mr Muthukrishnan Ramaswami, President, will lead Derivatives, Market Data & Access, Post-Trade and Securities.
SGX also announced today that after 11 years with SGX, Mr Gan Seow Ann, Co-President, has decided to leave the organisation. Having worked in the financial services industry for over 26 years, Mr Gan has decided to take time off to review his interests.
Mr Gan has however, agreed to continue his relationship with SGX as Advisor. He will help leverage SGX's strategic investments and partnerships including SGX's participation in the ASEAN Exchanges collaboration. In addition, he will help SGX explore emerging opportunities in the region and lead the creation and establishment of advisory boards, particularly for the Listings, Fixed Income and Commodities businesses. He will continue as a Director on SGX-ST and SGX-DT.
"I would like to thank Gan for his outstanding contribution to SGX over the past 11 years, steering the shaping of SGX into a leading exchange in the region, building a product discipline and sales culture and above all mentoring and coaching so many of our colleagues in SGX. I would like to personally acknowledge his support - his timely counsel and guidance has been invaluable. No doubt, I will miss him when he relinquishes his current role in May. I wish Gan the very best in all his future endeavours," said SGX CEO, Mr Magnus Bocker.
"I am honoured to have worked alongside colleagues who are among the best in the industry. Together we have built Singapore Exchange on a foundation of strong principles. I believe SGX will continue to grow in strength and relevance as a trusted global market leader," said Mr Gan.