Nasdaq OMX president Magnus Bocker is quitting the market operator to take over as chief executive officer of the Singapore Exchange.
Bocker, 47, is stepping down from his role at Nasdaq OMX in September before taking up his new role in December for an initial term of three years, replacing Hsieh Fu Hua.
Bocker helped create OMX, and in over 20 years at the firm served as CFO, deputy CEO, and president of the OMX Technology division before taking over as CEO and president in 2003.
He played a key role in the group's merger with US exchange operator Nasdaq in 2008. As president of the new entity he was responsible for listings, corporate services and market technology.
Nasdaq OMX says CIO Anna Ewing will take over market technology with Bruce Aust, EVP, global corporate client group, assuming Bocker's other responsibilities.
Bob Greifeld, CEO, Nasdaq OMX, says: "Magnus built a ground-breaking, successful exchange and technology company in OMX, and he has played an integral role in the successful merger of Nasdaq OMX. We are grateful for his valuable contributions over the last 18 months, including executing on our successful integration as well as his achievements in moving our listings and market technology business forward."
The Singapore Exchange is a Nasdaq OMX market technology customer and in March the two signed a migration study agreement. Under the deal they will undertake a study of a migration plan to Genium, Nasdaq OMX's new trading platform.