SGX revamps organisation, names Michael Syn president and global markets head

THE Singapore Exchange (SGX) is implementing a new organisational structure, which includes the appointment of Michael Syn as the bourse’s new president and head of its global markets division.

On Thursday (Sep 14), SGX said that key changes for its new structure will take effect from Oct 1.

Syn, who first joined the bourse as its senior vice-president and head of derivatives in 2011, has been holding the enlarged role as head of equities since July 2019. All business lines except for indices will be under his purview in the new role. This will cover all asset classes, namely: equities, fixed income, currencies and commodities.

The newly formed wholesale markets and platforms division will be led by SGX’s current head of fixed income, currencies and commodities, Lee Beng Hong. This will allow SGX to achieve its twin objectives of developing its multi-asset offering and further scaling its geographical and client coverage, said the bourse.

Chief financial officer Ng Yao Loong will oversee the development of the indices business with a focus on partnerships, while chief technology officer Tinku Gupta will be appointed the bourse’s chief information officer to oversee technology and operations.

Gupta will also work with SGX’s head of operations and market services, Nico Torchetti, to enhance service delivery for existing customers, as well as co-create new solutions for both retail consumers and institutional clients.

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Loh Boon Chye, chief executive of SGX, said that the new structure will enable the bourse to capitalise on “immense growth opportunities” from rising capital flows into Asia. “As an exchange built on a strong foundation in securities and derivatives, SGX Group has over the years transformed to become a highly valued multi-asset business for customers and partners around the world. More and more global investors are turning to our trusted international marketplaces to invest and manage portfolio risk across asset classes.”

Shares of SGX were up S$0.04 or 0.4 per cent at S$9.76 as at the midday break, before the announcement was made.