Canadian stock exchange operator TMX Group has announced a reshuffle of its operations as part of a new strategy.
Some functions will be merged and new roles created to improve TMX’s client focus and help it grow core market areas.
The firm’s group head of information technology, Brenda Hoffman, will leave the business in July and her role merged into the new role of head of global enterprise services.
The new role will be taken on by Jean Desagne, CEO of the Canadian Depository for Securities (CDS) who will take control of the delivery of operations, technology, transaction services and procurement in addition to his CDS mandate.
TMX is also creating a new executive role focused on commercial strategy and client experience.
At the same time as announcing the reshuffle, TMX revealed its business strategy, which will focus on five pillars it hopes to prioritise.
Capital formation, derivatives, market insights, market solutions and efficient markets have been named as the five strategic pillars. This will involve issues such as facilitating capital raising for issuers, creating new derivatives products and delivering high-value data propositions.
Lou Eccleston, chief executive officer of TMX, said: “To achieve our vision, it was clear that we needed to refine our organization and become more focused than ever on meeting the evolving needs of our clients.”
“The strategic review process guided our company to make some important and intelligent choices that will invigorate our ability to obtain significant efficiencies and ignite innovation across all aspects of the business and compete more effectively in Canada, across North America and around the world.”