Magnus Bocker is replacing Hsieh Fu Hua as chief executive officer of the Singapore Exchange (SGX), the company announced last night.
His profile highlights his fantastic track record in business development ie. putting together small bourses and finally selling the consolidated entity to a big boy. This is in addition to the fact he took his wife's name. (I cannot understand the need for that.)
Anyway back to my intention of this blog piece.. I would like to raise the question as to his competence in the area of control, maintenance, supervisory roles of a stock exchange.
We certainly need a SGX that would play an even hand to its shareholders and yet market friendly to the listed companies and big and small investors (hopefully not always in this order of preference).
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