SINGAPORE - Mr Magnus Bocker, who led the Singapore Exchange (SGX) after the global financial crisis, has died of cancer in the United States.
Mr Bocker, an honorary chairman of Securities Investors Association, Singapore (SIAS), was 55. The Straits Times understands he died in Missouri, where he was receiving treatment for a cancer relapse. The business graduate of the University of Stockholm leaves behind three sons.
"We would like to express our deepest condolences on the passing of Magnus Bocker. Our thoughts are with his family during this difficult period,"SGX said in a statement of condolence on Friday (July 28). "Magnus..was a driving force for change. Everyone who has interacted and worked side-by-side with him have held him in great regard. We will remember him for his infectious optimism, fresh insights, and energetic approach to just about anything, from music to cars to the exchange business and his belief in SGX,"it said.
Mr Bocker was SGX chief executive from 2009 to 2015. Before that, he was president of Nasdaq, which merged in 2008 with Nordic exchange OMX. He also co-headed his own investment firm, Blibros Capital Partners, where operations straddle Singapore and Stockholm.
A native Swede, Mr Bocker became a permanent resident here in 2011. He made his name on the global stage as a savvy dealmaker who helped to create the Nordic exchange group OMX, then led its eventual merger with Nasdaq. After a short stint as president of Nasdaq, Mr Bocker was lured to Singapore in 2009 to take over SGX from outgoing CEO Hsieh Fu Hua.
Mr Bocker's tenure at SGX was characterised by his goal to raise the exchange into a best-in-class platform in Asia, but also by his inability to replicate his dealmaking success in Singapore.
SGX was later also reported to be a suitor for the London Metal Exchange in 2012, but lost out to Hong Kong Exchanges and Clearing.