Ex-SGX chief is new Sias honorary chairman

Mr Magnus Bocker takes over from Mrs Lim Hwee Hua as Sias honorary chairman next Wednesday. During her three-year term, the group became a charity and an institution of public character.
Mr Magnus Bocker takes over from Mrs Lim Hwee Hua as Sias honorary chairman next Wednesday. During her three-year term, the group became a charity and an institution of public character.

Former Singapore Exchange (SGX) chief executive Magnus Bocker has been appointed honorary chairman of the Securities Investors Association Singapore (Sias).

He will take over from Mrs Lim Hwee Hua, former Minister in the Prime Minister's Office and Second Minister for Finance and Transport, next Wednesday.

Sias said yesterday that during her three-year term, the group became a charity and an institution of public character.

"I am thankful for the opportunity to help further Sias' mission in representing shareholders' interests, especially those of the minority," said Mrs Lim.

The position, which is an independent and non-executive one, aims to provide checks and balances within Sias.

The honorary chairman can intervene if he is of the view, for instance, that the president and the committee have acted in breach of the association's constitution or have not acted in its interests.

Said Mr Bocker: "Sias has been successful in educating Singapore retail investors, promoting good corporate governance and protecting the rights for minority shareholders for the last 19 years.

"I will continue to support the management committee in their mission to educate and protect but also to develop Sias to be a stronger organisation for a challenging future.

"I started to invest in the stock market in my early teens and most of my education at the time came from Aktiespararna, the Swedish equivalent of Sias.

"For that, I am very grateful and it is also a reason why I look forward to assisting Sias."

He added that he will be spending the next few weeks learning more about how Sias operates, including its staff and management committee, and where he can add value and potentially give advice.

"They need to continue to be a strong advocate for investor education and good governance. They are already a strong voice for minority and retail investors.

"This needs to be an area of focus in the next three to five years."

Sias president and chief executive David Gerald said the choice of Mr Bocker was due to the strong interest he displayed during his tenure at the SGX and his willingness to work with the group.

"His experience in developing capital markets both in and out of Singapore will be an advantage to Sias and its members," he added.

Mr Bocker has more than three decades of experience in the financial industry, including having served as president of Nasdaq.

He is a member of the Sim Kee Boon Institute for financial economics at Singapore Management University and executive chairman of Blibros, his own investment company in Singapore and Stockholm that focuses on digital companies.

A version of this article appeared in the print edition of The Straits Times on January 25, 2017, with the headline 'Ex-SGX chief is new Sias honorary chairman'. Print Edition | Subscribe