The Singapore Exchange (SGX) is shaking up its organisational structure in a move to improve efficiency.
A key change involves integrating its sales and product teams to form three business lines: Equities and fixed income; derivatives; and market data and connectivity. The move is aimed at providing a more comprehensive range of services to investors and companies.
The reorganisation is in line with SGX's aim to improve the liquidity of the securities market and diversify its business mix, it said.
SGX chief executive officer Loh Boon Chye said yesterday: "The changes... will create a simpler and flatter structure, making us more efficient and better equipped to take on challenges and opportunities."
The reorganisation will result in personnel changes from Jan 1. Head of sales and clients Chew Sutat will head the equities and fixed-income business, while Mr Michael Syn will continue to lead the derivatives business.
SGX president Muthukrishnan Ramaswami will take on more responsibilities, overseeing operations and technology units, market data and connectivity and Membership and International Coverage (MIC).
MIC is a new unit that consolidates SGX's offices in China, Hong Kong, India, Japan and Britain. It will develop strategies tailored to each country to help promote SGX products and services.
In another move, the head of compliance, Mr Glenn Seah, will become the head of legal, compliance and company secretary, while China-based listings head Lawrence Wong will be relinquishing that role to focus on his position as head of China business.
Meanwhile, the chief of operations and technology officer, Mr Tim Utama, has resigned but will stay on to "oversee the transition, and to see through the implementation of the various SGX board committee of inquiry recommendations", the exchange said.
The recommendations were made following a major market disruption in November last year, which forced trading to be suspended for several hours.
SGX said Mr Utama, who joined the firm in December 2012, is leaving in conjunction with the reorganisation.