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The Board of Directors of Singapore Exchange Limited (“SGX”) is pleased to announce the appointment of Mr Magnus Böcker as Chief Executive Officer of SGX with effect from 1 December 2009. Mr Böcker’s appointment is for an initial term of three years.
Said SGX Chairman J Y Pillay, “Magnus shares our entrenched values and, we believe, will fit effortlessly into our company culture. He has distinguished himself in most areas of the exchange business and has a good understanding of the interplay of forces in the global exchange community. We look forward to his leadership of SGX in the next phase of its evolution.”
Commenting on his appointment to SGX, Mr Böcker said he has followed, with great interest, developments in Asian exchanges. “I am fortunate to have been involved in various capacities with many of them, including the SGX. There is no doubt that Asia, and in particular Singapore and the SGX, will play a crucial role and have significant influence in shaping tomorrow’s global financial landscape. I am truly honoured to be given this opportunity to enter SGX to jointly build on this great success story.”
Mr Böcker, 47, is President of NASDAQ OMX. He has had more than twenty years of leadership experience within the Exchange Industry, including the creation of OMX, and subsequently playing a key role in the merger of OMX and Nasdaq in 2008.
OMX operated seven stock exchanges in Northern Europe and was also recognised for its technology platform. OMX was the world’s largest provider of technology solutions for exchanges, clearing organisations and securities depositories. Mr Böcker spent 22 years with OMX, serving in various capacities, including CFO, COO and President of the OMX Technology division, before he became CEO of OMX AB in 2003. Mr Böcker is currently a member of the Board of World Federation of Exchanges.
SGX CEO Hsieh Fu Hua, who will complete his current term in September 2009, has agreed to stay on till Mr Böcker assumes office in December.
Thanking Mr Hsieh on behalf of the Board, Mr Pillay said, “To say we are sorry and saddened by Fu Hua’s imminent departure is an understatement. He has served us with great distinction for six-and-a-half years. That was a strenuous, albeit exhilarating, period for him and his colleagues. Fu Hua deserves his break. SGX will miss that outstanding and popular CEO.”
On his tenure with SGX, Mr Hsieh said, “I have had a wonderful time at SGX, benefiting from the wise leadership of Mr Pillay, the guidance of a strong board and the warm support of great colleagues. I joined in the belief that we would build an able and passionate team, a robust organisation of high trust, and a resilient business that will endure. I cannot think of a better person than Magnus to lead SGX at this time. Magnus and my colleagues will continue this journey.”
