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Nasdaq OMX reorganises Nordic operations after Nord Pool acquisition

10 November 2008  |  2522 views  |  0 Source: Nasdaq OMX

The Nasdaq OMX Group (Nasdaq:NDAQ) announced today that its business area Transaction Services Nordic will be reorganized to better serve clients and incorporate the acquired Nord Pool business.

This change follows the launch of the new roadmap for the Nordic equity market, announced on October 16th. As a result of this move, all customer service roles within the cash equities and equities derivatives areas will be combined into a single unit.

Hans-Ole Jochumsen, Executive Vice President, NASDAQ OMX, commented, "We recognized that integrating our client service functions would allow us to better focus on the needs of our clients and at the same time increase our competitive advantage. Additionally, we have made some functional changes that will increase our operational efficiency as our organization continues to expand and grow."

As part of the reorganization, several management changes will be made.

Bjorn Sibbern will head up sales efforts for both the cash equities and equities derivatives in the Nordics and continue to serve as the President of NASDAQ OMX Copenhagen. Previously Mr. Sibbern was responsible for sales within the cash equities markets.

Henrik Husman has been appointed acting President of NASDAQ OMX Helsinki. Henrik Husman will also continue to serve as Vice President of Products within the equities markets.

Jouni Torasvirta, former President of NASDAQ OMX Helsinki, has chosen to seek new challenges outside the company. Jouni Torasvirta has for the last 20 years been a valuable contributor in the development of the Nordic securities market.

Magnus Billing will expand his current role to take on the position of acting head of the Surveillance operation within NASDAQ OMX Nordic. Currently Magnus Billing serves as Chief Counsel Europe for NASDAQ OMX.

Anders Ackebo will leave his position as head of Surveillance for NASDAQ OMX Nordic looking for new challenges outside the company after reaching an agreement with NASDAQ OMX. Anders Ackebo joined the company as Head of Surveillance in Stockholm in 2001. Anders Ackebo has contributed to creating trust and credibility for the markets by running the surveillance operation.

The Surveillance department, primarily responsible for monitoring trading and disclosures made by listed companies, will be moved out of the Transaction Services Nordic and into the Office of General Counsel. This will further enhance the independence of the Surveillance unit.

The operations within the Financial Training business unit will in the future be outsourced and operated by an external company. All courses and training currently offered by NASDAQ OMX Nordic will continue.

The acquisition of Nord Pool's international energy and carbon derivatives will be organized in the Commodities business unit within the Transaction Services Nordic business area.

A new business unit, European Derivatives, headed by Henrik Paulsson, will be introduced focusing on new initiatives within the derivatives and clearing areas.

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