SGX's senior tech executive departing

SINGAPORE (Reuters) - Singapore Exchange's executive vice president Bob Caisley, who heads technology operations and technology solutions delivery, is leaving the company, people familiar with the matter said.

Mr Caisley, who is part of SGX's executive management and has been with the bourse for nearly eight years, will relocate to Europe, they said.

He is being replaced by Tinku Gupta, the bourse's head of market data and access, said the sources, who declined to be identified as they were not authorised to speak to the media.

Mr Caisley's departure comes after the bourse suffered trading disruptions late last year and was rebuked by the regulator.

Responding to a query from Reuters, SGX confirmed the moves.

Mr Caisley said he was relocating to Europe for both personal and professional reasons.

SGX said in June it would invest S$20 million to improve its technology following the trading disruptions.

The outages, which were caused by a software error and a power failure, came as the bourse was already grappling with falling trading volume.