Montreal Exchange head Bertrand steps down

Source: TMX Group

TMX Group Inc. announced today that Luc Bertrand, Deputy Chief Executive Officer, TMX Group and President and Chief Executive Officer of Montreal Exchange Inc., will be stepping down from his position effective June 30, 2009. Thomas Kloet, Chief Executive Officer, TMX Group said: "Luc has been a valued partner in completing the TSX Group and MX combination to create TMX Group. He has shown significant leadership in the integration effort to maximize revenue generation, improve competitive positioning and realize cost efficiencies. He is well respected for his strategic and leadership skills both within TMX Group and with his peer group. We appreciate all that Luc has done for TMX Group and wish him all the best in the future."

Mr. Bertrand has served as MX's President and Chief Executive Officer since March 2000 and was integral in establishing and growing the business into the successful derivatives exchange it is today. Mr. Bertrand said: "I have had a wonderful career working with the MX team, and am proud of our achievements in creating TMX Group, fulfilling a vision I have had for the Canadian capital markets since 1999. I now feel that it is a good time for me to move on to other challenges and opportunities. We have a solid team in place to lead the business forward and there will be a smooth transition to my successor. I am confident that I am leaving both TMX Group and MX in good hands." Mr. Bertrand will continue as a member of the TMX Group Board of Directors until June 30, 2009.

TMX also announced the appointment of Alain Miquelon to the position of President and Chief Executive Officer of MX, effective July 1, 2009. "Alain is the clear successor for the position of President and Chief Executive Officer of MX at TMX Group," said Mr. Kloet. "He has demonstrated leadership skills and has done a terrific job of spearheading the integration planning process."

Mr. Miquelon joined MX in August 2007, and held the role of Executive Vice President, Chief Financial Officer and Head of Strategic Planning until the completion of the Combination, at which time he took a leadership role as Head of the Integration Project Management Office. Mr. Miquelon has 20 years of industry experience; he is a Chartered Accountant and earned his MBA at INSEAD, France.

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