SGX reshuffles listings team as competition heats up

[SINGAPORE] Singapore Exchange Ltd is rejigging its listings team as it seeks to boost its international footprint and fend off competition from regional bourses, people with knowledge of the matter said.

SGX has appointed Mohamed Nasser Ismail as head of equity capital market, according to the people, who asked not to be identified because the information is private. The move expands Mr Nasser's responsibilities to include main board initial public offerings, the people said.

Mr Nasser was previously head of equity capital market for small- and medium-sized enterprises, helping bring listings to Singapore's Catalist board, as well as head of capital market development. Catalist, set up in 2007 to attract growth companies, has almost 200 firms listed with a combined market value of S$11.5 billion as of last year, according to SGX's website.

Simon Lim, who was SGX's head of equity capital market for sectors, is moving to Hong Kong for a new role. He will join SGX's international division to lead sales efforts in the territory, a representative for the bourse operator said in response to Bloomberg queries.

Mr Nasser and Mr Lim are slated to start their new roles in January, the people said.

"As we expand our business as a multi-asset exchange across a global network, we need to be closer to our clients, markets and opportunities," the SGX representative said in an emailed statement. "To this end, we are strengthening our teams on the ground."

SGX recently appointed Thomas Connors, a veteran of UBS Group AG, as a senior vice president on its international team in New York, according to the representative. It has also hired Craig Cohen as a senior vice president in Chicago for that group, formally known as the Membership and International Coverage unit.

Mr Cohen was most recently at Jefferies Financial Group Inc, where he worked in prime brokerage sales, following a stint at JPMorgan Chase & Co, his LinkedIn profile shows.

Fundraising from Singapore initial public offerings has fallen to US$1.5 billion this year, down from US$3.4 billion during the same period in 2017, data compiled by Bloomberg show. First-time share sales globally are down about 6 per cent to US$201.5 billion.

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