Singapore Exchange CEO signals succession planning as contract nears end in 2027
Mr Loh Boon Chye joined SGX as chief executive officer in July 2015. His current contract runs until mid-July 2027.
Singapore Exchange CEO Loh Boon Chye speaks at the Reuters NEXT conference in Singapore Jul 9, 2024. (File photo: REUTERS/Ore Huiying)
Singapore Exchange CEO Loh Boon Chye said on Friday (Oct 23) that the bourse operator had begun planning for an eventual leadership transition, although no date had been set for his departure.
In a statement delivered at SGX's annual general meeting, Loh said he had recently informed the chairman that planning should begin for a future CEO transition.
"We are doing so from a position of strength – with a clear strategy, strong momentum and a highly capable leadership team. This gives us the opportunity to plan thoughtfully and with confidence for the future," he added.
In response to CNA's queries, SGX confirmed that no specific date has been set for the transition and that it has nothing further to add at this point.
Loh joined the bourse operator as chief executive officer in July 2015 and also serves as an executive and non-independent director on its board. His current contract runs until mid-July 2027.
The potential transition comes as SGX seeks to build on growth across its securities, derivatives and foreign exchange businesses, while Singapore pushes to reinvigorate its equities market and attract more listings.
Last year, Singapore introduced a 20 per cent tax rebate for primary listings and established a framework for dual listings on the SGX and Nasdaq, as part of broader efforts to strengthen its capital markets.
Before taking the helm at SGX, Loh, 62, spent more than two decades in investment banking, including 17 years at Deutsche Bank, where he rose to become head of corporate and investment banking for Asia-Pacific.
He subsequently served as deputy president and head of Asia-Pacific global markets at Bank of America Merrill Lynch from 2012 to 2015. Loh began his financial career as an investment officer at the Monetary Authority of Singapore in 1989, after graduating from the National University of Singapore with an engineering degree.
Loh was also no stranger to SGX when he became CEO, having previously served on its board from 2003 to 2012. He currently sits on the boards of Singapore's sovereign wealth fund GIC and the World Federation of Exchanges, which is the global industry association for exchanges and clearing houses.
The succession planning comes after SGX reported record earnings for the financial year ended June 2026, with adjusted net profit rising 24.6 per cent to S$759.5 million (US$594.3 million) and net revenue increasing 13.9 per cent to S$1.48 billion.
