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SGX names ex-BofAML banker Loh Boon Chye as next CEO
THE Singapore Exchange (SGX) has named Loh Boon Chye, the former head of Bank of America Merrill Lynch's (BofAML) global markets in the Asia Pacific, as its next chief executive from July 14.
Mr Loh, 51, will replace Magnus Bocker, who said in February that he will leave after his contract runs out on June 30. SGX president Muthukrishnan Ramaswami will be in charge in the interim.
"I am honoured to be given the mandate to steer SGX, and look forward to further building on a strong foundation," Mr Loh said in a statement. "I have previously had the opportunity to be involved with SGX and seen it grow into a truly international exchange that is a gateway to Asia. In a rapidly evolving financial landscape, SGX has to adapt to stay ahead and I look forward to working with the stellar team towards this goal."
SGX chairman Chew Choon Seng said: "We are pleased to welcome Boon Chye as the new CEO. He is very well regarded by everyone who has worked with him and respected as an accomplished leader and team manager. Boon Chye is no stranger to SGX and his knowledge and extensive experience in capital markets equip him well to take SGX forward."
Mr Loh began his career as an investment officer with the Monetary Authority of Singapore in 1989. He then moved to the Singapore branch of Morgan Guaranty Trust Co of New York in 1992, before joining Deutsche Bank where he led the German bank's investment banking teams in the region. He joined Bank of America Merrill Lynch in December 2012 until he quit earlier this year.
SGX shares closed at S$7.93 on Monday, lower by 19 Singapore cents or 2.34 per cent, before the appointment was announced.
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