His retirement comes as the organization embarks on an overhaul of its business and client structure to pursue growth opportunities and build scale asset classes.
Singapore Exchange (SGX) president Muthukrishnan Ramaswami has decided to step down after 12 years in the role, SGX announced on Thursday in a statement.
Ramaswami, 62, joined SGX in 2010. He is a member of the organization's executive management committee, with direct oversight of SGX Group's Technology, Operations, Market Data, and Connectivity and International Coverage functions.
Organizational Restructure
SGX also announced that it would be realigning its business and client organization to grow and scale asset classes. According to the exchange, its new organizational structure leverages its «strength as an international multi-asset exchange, to pursue growth opportunities and build scale in multiple asset classes.»
From July 1, four business units will report to the CEO: Fixed Income, Currencies and Commodities (FICC); Equities (Cash & Derivatives); Data, Connectivity and Indices (DCI); and Global Sales and Origination (GSO).
The FICC unit will be led by FICC products specialist Lee Beng Hong, who will join SGX on August 1. Michael Syn, currently head of Derivatives, will become head of Equities and lead the unit. Ng Kin Yee will continue to lead DCI, while the current head of Equities & Fixed Income, Chew Sutat, will head GSO.
Building New Capabilities
«These changes will further SGX's future growth as a leading international exchange, fluent in multiple asset classes,» SGX CEO Loh Boon Chye said about the organization's new structure.
