TMX Group LTD. (X.TO) said Friday that it has appointed Jean Desgagne as President and Chief Executive Officer of The Canadian Depository for Securities Ltd., or CDS, Canada's national securities depository, clearing and settlement hub for equity, fixed income and money markets.
Through its subsidiary, CDS Clearing and Depository Services Inc., CDS holds over $4 trillion on deposit and annually handles over 374 million domestic transactions and over 41 million cross-border transactions with the U.S.
Desgagne, whose appointment will take effect on February 19, will join TMX Group's executive management committee and will be an Officer of TMX Group Ltd.. He replaces Ian Gilhooley, who retired on December 31.
Desgagne joins CDS from TD Bank Group, where he most recently served as Senior Vice President, Trading Risk Services, with responsibility for the independent oversight of valuation, market risk, liquidity and collateral for TD's global trading business. Prior to TD, he held increasingly senior positions at some of Canada's leading financial institutions in areas such as treasury operations, technology, trading support and risk management.
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