Senior Management

John McKenzie is the Chief Executive Officer (CEO) of TMX Group.

Mr. McKenzie is a member of the TMX Group Board of Directors and also a member of the Board of Directors of several TMX Group subsidiaries.

Mr. McKenzie has worked for TMX for over 20 years; prior to his appointment as CEO on August 17, 2020, he served as Chief Financial Officer and was responsible for corporate strategy, corporate development, investor relations and the financial management of the company as well as for the administrative oversight of TMX Group’s Capital Formation business. He has led various TMX acquisitions, including the Maple transaction, and the acquisitions of Montréal Exchange and Trayport.

From July 2015 to August 2016, Mr. McKenzie served as President of CDS, Canada’s equity and fixed income clearing house and a wholly-owned subsidiary of TMX Group. Prior to that he was the Chief Operating Officer (COO) and CFO of CDS.

Mr. McKenzie is a Chartered Professional Accountant (CPA, CMA) and has an MBA from Edinburgh Business School, Heriot-Watt University and an Honours BA from Wilfrid Laurier University. He has served on a number of boards, and is currently the Working Committee Chairman of the World Federation of Exchanges, and a Board Member and Treasurer for the Hamilton Health Sciences Foundation.

Loui Anastasopoulos is CEO, Toronto Stock Exchange and Global Head, Capital Formation.

Mr. Anastasopoulos is responsible for TMX Group's Capital Formation businesses, including its global listings businesses, Toronto Stock Exchange (TSX) and TSX Venture Exchange (TSXV), as well as oversight of the Enterprise Marketing function for TMX Group, responsible for driving proactive, integrated marketing programs across the organization.

Mr. Anastasopoulos's accountabilities include ensuring that TSX and TSXV operate in accordance with their important public interest mandate and that their policies are continually reviewed and developed to address developments in the global capital markets.

Mr. Anastasopoulos oversees a global business development team with representatives located in Canada, the United States, China, Israel, Brazil, Peru and the United Kingdom.

Additionally, Mr. Anastasopoulos has oversight responsibility for TSX Trust Company, our corporate trust, transfer agency and registrar business, and provides strategic guidance and direction to the company in his capacity as a Director. Previously, he served as CEO of TSX Trust, and under his leadership and vision, helped TSX Trust become the largest Canadian-owned transfer agent, and provider of corporate trust services.

Mr. Anastasopoulos joined TMX Group in 2006 and has served in a number of senior leadership roles in the Capital Formation business, including Vice President, Global Business Development, and Director of Relationship Management and Product Development.

Mr. Anastasopoulos has over 20 years of financial services and capital markets experience. Prior to joining TMX Group, he worked at Scotia Mcleod, National Bank Financial and a Toronto-based financial services start-up. Mr. Anastasopoulos graduated from the University of Toronto.

David Arnold is Chief Financial Officer at TMX Group. David is responsible for leading the company's finance function, including strategic financial planning and reporting, corporate development, investor relations, operational administration and expense management.

Mr. Arnold joined TMX Group in 2021, following a 20-year career at CIBC, where he most recently served as Executive Vice President, Enterprise Programs, Technology and Operations.

In this role, he led transformation and simplification efforts across the CIBC Group of Companies, including Client Relationship Management, Payments Modernization, Enterprise Programs and Delivery Excellence. Prior to that role, Mr. Arnold held increasingly senior positions in Finance and Administration, including Executive Vice President, Strategy & Corporate Development and led CIBC's Finance Shared Services Division as Executive Vice President & Global Controller.

Mr. Arnold is a graduate of the University of Cape Town and holds the Fellow Chartered Professional Accountant (FCPA, FCA) designation awarded by CPA Ontario. He has an ICD.D designation from the Institute of Corporate Directors, and served in leadership roles across various charitable campaigns during his time at CIBC, including Sick Kids Leaders, Run for the Cure and the United Way.

Cindy Bush is Chief Human Resources Officer at TMX Group, responsible for leading all aspects of TMX's Human Resources function in support of the Company's corporate objectives, including strategy development and execution, workplace culture, total rewards, employee communications, performance management, and talent development and acquisition.

Ms. Bush joined the Company in December 2020, after more than 25 years of international experience in human resources, talent strategies and culture transformation.

Most recently, she served as Chief Human Resources Officer at Cineplex and had previously held leadership roles at companies ranging in size from 30 to 100,000 employees, including Foresters Financial, OMERS, and CIBC.

In 2008, she authored "Project Managing Change: Practical Tools and Techniques to Make Change Happen", a global best-seller published by Financial Times Business Enterprises.

Ms. Bush holds a Bachelor of Journalism from Carleton University and a Masters of Education from the University of Toronto.

Peter Conroy is CEO of Trayport Limited, a wholly owned subsidiary of TMX Group Limited (TMX Group). Peter is responsible for the leadership and general management of the business.

Mr. Conroy joined TMX Group in 2004 and has served in leadership roles across the business, including as President of Shorcan Brokers Limited, TMX Group's fixed income inter-dealer broker, from 2008 to 2018. Prior to that role, he served as Director of Business Development, Futures Market at the Montreal Exchange and as a Senior Manager in Equities Trading at TSX. Before joining TMX Group, Mr. Conroy held senior positions at a number of software and financial services providers, and was a founder of Canada's first registered Alternative Trading System, or ATS, CollectiveBid Systems/CBID Markets Inc.

Peter has served on the Board of Natural Gas Exchange (NGX) and on the Board of Directors of The SandBox Project, a Canadian national charity whose vision is to make Canada the healthiest place on earth for children and youth to grow up. Peter currently serves on the Board of the Canada-UK Chamber of Commerce.

Luc Fortin is President and Chief Executive Officer of the Montréal Exchange (MX) and Global Head of Trading, TMX Group. His key responsibilities include leading growth in TMX's equities, derivatives, and fixed income trading businesses, and delivering a world-class experience to our global client base. In 2021, his mandate expanded to include oversight and strategic direction of CDCC and CDS, TMX's post trade businesses and crucial components of Canada's capital markets infrastructure.

Mr. Fortin joined MX as Managing Director, Derivatives Trading in June 2016, following a 25-year career in Canada's capital markets industry, leading client-facing teams in fixed income and derivatives. Prior to joining MX, he served as Managing Director, Canadian Head of the Institutional Client Group at HSBC Bank Canada. In this role, Mr. Fortin led HSBC's institutional client-facing businesses in rates and credit, derivatives, foreign exchange and money markets across Canada. Prior to HSBC, he held senior leadership positions at TD Bank and TD Securities.

Mr. Fortin serves on the boards of CDCC, Canada's derivatives clearing house, and CDS, Canada's equity and fixed income clearing house. He also serves on the board of BOX Holdings Group LLC and BOX Market LLC (BOX), a U.S. equity options market, and the boards of the Canadian Investment Regulatory Organization (CIRO) and Finance Montréal.

Mr. Fortin is a graduate of the TD Securities Leadership program at Ivey Business School and holds a Bachelor of Commerce from University of Ottawa.

Cheryl Graden is Chief Legal & Enterprise Corporate Affairs Officer and Corporate Secretary, TMX Group. She is also an officer of TMX Group Limited and its subsidiaries and a member of the TMX Group Executive Committee. Ms. Graden has responsibility for advising TMX Group on all legal and regulatory issues that arise out of its operations and business initiatives. Over the last few years, the scope of her role has expanded to include the oversight of Enterprise Risk Management, Government Relations and Corporate Communications to ensure alignment in our enterprise approach across all stakeholder groups.

Ms. Graden began her legal career at Torys LLP in 1996 and joined TMX Group in 2004 as Chief Legal Officer at NGX in Calgary. Her role expanded over the years to encompass additional responsibilities, including the Canadian Depository for Securities' legal and regulatory affairs.

In January 2013, Ms. Graden was promoted to Vice President, Cash Clearing and Energy. She is an acknowledged expert in energy and clearing and has been a regular speaker on these topics across North America.

In addition to an undergraduate degree from the University of Alberta, Ms. Graden earned Bachelor of Laws and Masters of Law (Securities) degrees from Osgoode Hall Law School and is called to the Bar of Ontario. She is a Member of the Law Society of Upper Canada.

Jay Rajarathinam is Chief Operating Officer, TMX Group. Jay is responsible for the development and execution of the overall enterprise strategy for TMX, focusing on enabling business growth through technology, innovation and optimizing operations. He oversees TMX Datalinx, the enterprise’s data division, with a focus on the design and delivery of new client-centric, data-driven solutions, and TMX VettaFi, a leading US-based, indexing, digital distribution, analytics and thought leadership company, acquired in January 2024. Jay’s mandate also includes enterprise technology and integrated operations.

Since joining the organization as Chief Information Officer in July 2016, Jay has helped TMX to take important strides as a technology-driven solutions provider. From 2019 to 2021, he served as President of CDCC and CDS, TMX’s derivatives and cash equities and fixed income clearing businesses, where his responsibilities included strategic planning and execution, as well as technology operations and incident management.

Mr. Rajarathinam has more than 20 years of financial services technology experience and has managed global teams across a wide range of infrastructure and application domains, including trading, clearing, e-commerce, security and surveillance systems, and networks. Prior to joining TMX Group, he served as Senior Vice President, Global Head of Infrastructure at NYSE/Intercontinental Exchange and earlier in his career, he held senior technology leadership positions at Barclays and at Wells Fargo.

Mr. Rajarathinam holds an MS in Computer Science from the University of Illinois and an MBA in Finance and Strategy from the University of Chicago.