TMX Group Limited has appointed Jean Desgagne as the president and CEO of the Canadian Depository for Securities Limited.
CDS is the country’s national securities depository, clearing and settlement hub for equity, fixed income and money markets.
Through its subsidiary, CDS Clearing and Depository Services Inc., it holds over $4 trillion on deposit. It also handles more than 374 million domestic transactions annually, along with more than 41 million cross-border transactions with the U.S.
Desgagne’s appointment will take effect on February 19, 2013. He’ll join TMX Group’s executive management committee and will be an officer of TMX Group Limited. He replaces Ian Gilhooley, who retired on December 31, 2012.
He joins CDS from TD Bank Group, where he most recently served as senior vice president of Trading Risk Services. He was responsible for the oversight of valuation, market risk, liquidity and collateral for TD’s global trading business.
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