Organizational restructuring at Singapore Exchange

Investment holding company Singapore Exchange Limited (SGX) is reorganizing its Organizational Structure. As part of the internal restructuring, there will be some new appointments, and some exits. 

To begin with, Muthukrishnan Ramaswami, President of SGX will step down from his role  on 1st October. He had been President at the firm since 12 years. 

Ramaswami is also a member of SGX's executive management committee and has direct oversight of technology, operations, market data and connectivity, and membership and international coverage functions of the SGX Group.

Further, as per the new structure, four business and client units – fixed income, currencies and commodities; equities (cash & derivatives); data, connectivity and indices; and global sales and origination – will report to CEO Loh Boon Chye from 1st July.

Next, SGX will combine fixed income, currencies and commodities (FICC) to form a new business unit and FICC unit will be led by Lee Beng Hong. 

Hong will join SGX on 1st August, while CEO Loh oversees the unit in the interim.

Hong brings in over 16 years of international banking experience in global markets, specialising in Asian FICC products, sales and coverage.

Additionally, the cash equities and equity derivatives businesses gets combined into one platform. This new combination allows retail and institutional clients to access a continuum of equities products, including all trading, clearing, post-trade and research services.

To head equities, SGX has roped in Michael Syn, Head of Derivatives for the new role. 

While many things change at the firm, Ng Kin Yee continues to lead data, connectivity and indices (DCI). 

As SGX reorganizes its various business units, the equities and debt capital market teams get combined with SGX’s nine international offices and specialist sales teams.

Chew Sutat shall head this global sales and origination (GSO) unit. 

With the new structure SGX is aiming to capitalise on its strength as an international multi-asset exchange and pursue growth opportunities, and build scale in multiple asset classes.

"These changes will further SGX’s future growth as a leading international exchange, fluent in multiple asset classes," said Loh.

While the investment holding company looks to build new capabilities in growth areas and achieve scale and efficiency in established markets, how it leverages this updated organizational structure for these goals will be interesting to know. 

As business needs change and priorities get redefined, it is important for companies to look at their internal structures and see if the capabilities are distributed accurately or not. It is absolutely critical that companies at least annually reflect on the way they have divided various businesses and functions, and also check how they have distributed talent across different units. 

To be prepared for the external disruptions, internal changes from time to time are a must.

Image Credits: SGR