TSX Group names American as new top executive
TSX Group Inc. has named Thomas Kloet as its new chief executive officer, shuffling an American into the head role at Canada's biggest stock and derivatives exchange. (Canadian Press)
Thomas Kloet, an American and a former chief executive of the Singapore Exchange Ltd., has been picked as the new CEO of TSX Group Inc.
Kloet, who has spent the past five years at Fimat USA LLC and Newedge USA LLC, will take over as chief executive at TSX on July 14.
He was the first CEO of the Singapore Exchange from 2000 to 2002, leading the company through an IPO and listing on its own stock exchange.
Kloet has also held the posts of senior managing director at ABN AMRO, and chief operating officer at Credit Agricole Futures Inc.
TSX Group recently completed its merger with Montreal Exchange Inc. On Wednesday, TSX Group shareholders will vote on a name change to TMX Group Inc.
"Tom brings a very impressive track record of success in a number of key areas and we believe he is the right person to drive the future of our new integrated TMX Group," said Wayne Fox, the chairman of TSX Group.
Kloet's selection bypasses Luc Bertrand, the deputy CEO of the combined TSX and Montreal Exchange, who was considered a leading candidate for the job.
The CEO's position opened up earlier this year when Richard Nesbitt left to take a job heading up CIBC World Markets.
Shares of TSX Group finished down 98 cents at $42.37 on the TSX.
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