TSX Group Inc. today announced the resignation of CEO Richard Nesbitt.

Nesbitt will be joining CIBC as CEO of CIBC World Markets, effective February 29.

Nesbitt’s departure from TSX Group comes after the December announcement of a proposed merger between TSX Group and Montreal Exchange Inc.

The $1.3 billion merger deal between the two exchange groups will be discussed at public hearings in February.

In a statement, the board of directors of TSX Group said it “will be making additional announcements regarding leadership at TSX Group in due course.”

“We wish Richard every success in the next stage of his career. He has been a leader during tremendous change in the organization. He leaves behind a strong management team that will continue to execute on the organization’s growth strategy as it has in the past,” stated Wayne Fox, chairman of TSX Group.

Toronto-based TSX Group operates Canada’s two national stock exchanges, Toronto Stock Exchange serving the senior equity market and TSX Venture Exchange serving the public venture equity market.