The President and CEO of Montréal Exchange (MX), Alain Miquelon, has parted ways with Toronto-headquartered TMX Group Limited (TSE:X), operator of equities, fixed income, derivatives, and energy markets exchanges, where he was also serving as the Group Head of derivatives.
The appointment is the third in less than a month at TMX’s C-level, which had several shakeups this summer, following the addition of John McKenzie as Chief Financial Officer (CFO) and Jay Rajarathinam as its newest Chief Information Officer (CIO).
Mr. Miquelon first landed at Montréal Exchange in 2007 when he served as Executive Vice-President, Chief Financial Officer and Head of Strategy. He was named President and CEO of MX in 2009.
Luc Fortin, who joined the firm in June, will be elevated from his current role as Managing Director of Derivatives Trading to act as interim President and CEO of MX. Mr. Fortin brings over 25 years’ experience in leading client-facing teams in fixed income and derivatives.
The outgoing CEO of Montréal Exchange, Alain Miquelon, said: “I want to thank TMX Group for giving me the opportunity to lead the derivatives group during the exciting development and growth period we’ve seen in the derivatives industry in the past seven years. ”
“I have the utmost confidence that the leadership team in place will deliver on the growth opportunities that the marketplace will offer MX in the coming years,” he added.
Commenting in the press release, Lou Eccleston, Chief Executive Officer of TMX Group, said: “On behalf of the TMX Board of Directors and the entire organization, I would like to thank Alain for his significant contribution to MX’s success and the work he has done to help advance MX’s strong domestic and international reputation over the years. I know the CDCC Board is grateful to Alain for his dedicated leadership during his time on the Board as well. We wish him best of luck in his future endeavours.”