The Tokyo Stock Exchange has found its successor at the top from another bourse, following the worst outage ever experienced in October last year.
Yamaji Hiromi, ex-Osaka Exchange president, will take on the role of president and chief executive officer as of April 1, according to a statement from bourse operator Japan Exchange Group (JPX).
Yamaji, 65, joined JPX for the Osaka role in 2013 and he has over four decades of experience after starting his financial career in Nomura Securities in 1977.
37-Year Veteran
37-year JPX veteran Iwanaga Moriyuki replaces Yamaji in his former role as the head of the Osaka Exchange.
He has also been named executive officer of JPX after his previous role as director and senior executive vice president of the Japan Securities Clearing Corporation.
October Outage
Yamaji replaces Miyahara Koichiro who resigned over the worst outage ever in October last year when a full day of trading was suspended due to a hardware system malfunction and the failure to switch to a backup system.
«[Miyahara], director, and representative executive officer, group co-COO of JPX, has taken seriously his responsibility for the failure in the arrowhead cash equity trading system that occurred on October 1, 2020,» said JPX in a December statement.
