LOH Boon Chye, chief executive of the Singapore Exchange (SGX) Group, has been elected the new chairman of the World Federation of Exchanges (WFE). He will serve a 2-year term with the global industry association.

He is among seven newly-elected board directors at the WFE. The appointments were announced at the WFE’s 62nd general assembly held in London.

Established in 1961, the WFE is the global industry association for exchanges and clearing houses. Headquartered in London, it represents over 250 market infrastructure providers, including standalone central counterparty clearing houses that are not part of exchange groups.

Loh was the vice-chairman of the WFE, according to its website.

The WFE board comprises 18 leaders from around the world. Jos Dijsselhof, CEO of SIX Group, was elected vice-chairman, while John McKenzie, CEO of TMX Group, was elected working committee chairman. Both were elected to two-year terms.

The other newly elected board directors are Greg Wojciechowski, president and CEO of the Bermuda Stock Exchange; Fredric J Tomczyk, CEO of Cboe Global Markets; Hiromi Yamaji, group CEO of Japan Exchange Group; and Byungdoo Sohn, chairman and CEO of the Korea Exchange.

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Loh said in a statement: “It is my privilege to serve as chairman of the WFE to help promote the association’s mission in fostering a transparent, collaborative and innovative ecosystem for global financial markets.”

He added that he is looking forward to working closely with the WFE and the board to advance the group’s priorities in areas such as market infrastructure resiliency, mutual market connectivity, as well as sustainability and inclusion.

Welcoming the new chairman, vice-chairman and working committee chair, WFE’s CEO Nandini Sukumar said: “Their knowledge and experience of the sector will be a great benefit to us as we continue to promote resilient, open and interconnected markets globally, as the voice of the industry.”