Magnus Bocker is next SIAS honorary chairman

Singapore

MAGNUS Bocker, former chief executive officer of Singapore Exchange (SGX), has been appointed the fourth honorary chairman of SIAS, the Securities Investors Association (Singapore).

SIAS said in a statement on Tuesday that his three-year appointment would take effect on Feb 1, 2017.

Mr Bocker will take over the reins from Lim Hwee Hua, under whose three-year term SIAS became a charity and an Institution of Public Character, said the association.

Ms Lim, executive director of private equity firm Tembusu Partners, said: "I am thankful for the opportunity to help further SIAS's mission in representing shareholders' interests, especially those in the minority."

She added that much work remains to be done, such as in enhancing SIAS members' appreciation of markets and their rights.

As honorary chairman - an independent and non-executive position - Mr Bocker will provide the check and balance within SIAS, and can intervene if he believes that the president and/or management committee has acted in breach of the association's constitution or is not acting in the interest of the association.

David Gerald, president and CEO of SIAS, said: "The choice of Mr Bocker as chairman was largely due to the strong interest in SIAS he displayed during his tenure as CEO of SGX and his willingness to work with SIAS.

"His vast experience in developing capital markets both in and out of Singapore will be an advantage to SIAS and its members."

Mr Bocker said that the association has been successful in educating Singapore retail investors, promoting good corporate governance and protecting the rights of minority shareholders for the last 19 years.

"I will now continue to support the management committee in their mission to educate and protect, but also to develop SIAS to be a stronger organisation for a challenging future."

Mr Bocker is executive chairman of Blibros, a Singapore and Stockholm-based investment firm that backs growth companies and startups in the digital space. He is also chairman and co-founder of private equity firm tryb Capital.

The Swede created a stir in February 2015 when he said he would not be extending his contract as SGX CEO after June 30 that year. Mr Bocker, who became chief of the local exchange in 2009, had said it was time to take on new challenges. His exit came amid widespread unhappiness over a moribund stock market, even though he had presided over a booming derivatives business at SGX.