TSX Group Inc. yesterday named Richard Nesbitt as its new CEO. Nesbitt was hired in the newly created position of president, TSX Markets, in 2001. He replaces Barbara Stymiest, who departed last month for a job at Royal Bank.

“Richard brings an impressive proven track record of success given his accomplishments here at TSX Group. The Board is confident he can bring that same drive and innovative spirit in leading the company forward,” said Wayne Fox, chairman of the TSX Group, in a release.

During the last three years he has introduced a number of innovative changes to the trading and market data divisions of TSX Group.

Earlier this year, Nesbitt led the deal team in the successful acquisition of NGX Canada, a Calgary based exchange for the trading and clearing of natural gas and electricity contracts.

Prior to joining TSX Group, Nesbitt served as president and COO of BayStreetDirect Inc., an Internet based investment dealer. Before that he was president and CEO of HSBC Securities Canada for three years, after having worked for ten years at CIBC Wood Gundy. He also has worked with Mobil Oil Canada Ltd., and spent two years as a Lecturer at The University of Western Ontario School of Business.

Nesbitt holds an M.Sc. in Accounting and Finance from the London School of Economics and Political Science, an MBA from the University of Toronto, and a B.A. (Honours) in Business Administration from The University of Western Ontario.

http://www.newswire.ca/en/releases/archive/December2004/02/c0706.html