TMX Group Announces Realignment

TMX Group established five strategic pillars it believes will be vital to successfully executing its goals: capital formation, derivatives, market insights, market solutions and efficient markets.

"To achieve our vision, it was clear that we needed to refine our organization and become more focused than ever on meeting the evolving needs of our clients," said Lou Eccleston, chief executive officer of TMX Group, in a statement. "The strategic review process guided our company to make some important and intelligent choices that will invigorate our ability to obtain significant efficiencies and ignite innovation across all aspects of the business and compete more effectively in Canada, across North America and around the world."

TMX Group also announced some organizational changes. Brenda Hoffman, group head of information technology at TMX Group, will leave the company, effective July 31.

Jean Desgagne, president and CEO of the Canadian Depository for Securities (CDS), will take over the newly-created head of global enterprise services role. Desgagne will be responsible for functions in charge of operations, technology, transaction services and procurement.

An executive role focusing on TMX Group's commercial strategy and client experience will also be created.

"We have now established the foundation for how we provide greater value to clients, deliver total return to shareholders, and build competitive differentiation for TMX Group going forward," Eccleston said. "The hard work of refining our structure to achieve these objectives now begins."