TMX Group Realigns06.02.2015
TMX Group, the Canadian exchange operator, said it is realigning its organization to better focus on meeting client needs. The technology-driven changes mark the completion of an in‐depth strategic review that began in January.
“To achieve our vision, it was clear that we needed to refine our organization and become more focused than ever on meeting the evolving needs of our clients,” Lou Eccleston, chief executive officer of TMX Group, said in a release. “The strategic review process guided our company to make some important and intelligent choices that will invigorate our ability to obtain significant efficiencies and ignite innovation across all aspects of the business and compete more effectively in Canada, across North America and around the world.”
The company defined what is required to successfully execute the strategy by prioritizing investments and leveraging existing resources and organizational capabilities around several “strategic pillars.”
One is capital formation. The goal is to “energize and expand our capital community to better facilitate capital raising for issuers of all types at all stages of their development and providing access to alternative sources of capital,” the company said.
Other pillars include creating new products to satisfy the increasing demand for derivatives products both in Canada and globally, delivering integrated data sets to fuel high‐value proprietary and third party analytics, and operating fast, easy to use platforms for trading and clearing.
TMX also announced a number of personnel changes. Brenda Hoffman, senior vice president, and group head of information technology is leaving the company. Jean Desgagne, president and CEO of the Canadian Depository for Securities (CDS), will assume the newly created role of head, global enterprise services. In addition to his CDS mandate, Desgagne will assume responsibility for the functions accountable for the delivery of operations, technology, transaction services and procurement.
The company also intends to create a new executive role that will focus on its commercial strategy and client experience. The individual in this role will set the course for TMX’s client‐facing organizational framework and develop a robust system for best‐in‐class sales and client management.
“We have now established the foundation for how we provide greater value to clients, deliver total return to shareholders, and build competitive differentiation for TMX going forward,” said Eccleston. “The hard work of refining our structure to achieve these objectives now begins.”
Feature image via TMX Group
Janus Henderson traders use a broad spectrum of electronic tools to optimize the search for liquidity.
Florida CFO said ESG standards are being pushed by BlackRock for ideological reasons.
The new regime requires a new investment playbook involving more frequent portfolio changes.
DWS will hold a stake of 30% in the new company.
More than 220 investors representing $30 trillion in AUM have signed up to 'Advance.'