Thomas Gallagher has been elected chairman of the council of the Bermuda Stock Exchange (BSX).
Gallagher, who is also chairman and CEO of Miami International Holdings (MIH), replaces David Brown, who remains on the council as deputy chairman, replacing Jeff Conyers.
Greg Wojciechowski continues in his role as president and CEO of BSX, but takes on new responsibilities as president of MIAX Global.
MIH is the parent holding company of the MIAX Exchange Group and the majority stock owner of the BSX. MIAX Global focuses on MIH's merger, acquisition and joint venture activities, and its trading, technology and other projects outside of North America. It will initially focus on Europe, with plans to ultimately expand into Latin America, the Middle East and Africa.
Wojciechowski said: "The BSX management team is very excited to be part of the next chapter in the BSX's development as we work with MIAX to bring new opportunities to the BSX and continue our efforts to develop Bermuda's domestic capital market."
Gallagher said the BSX will look to grow its existing debt and insurance-linked securities listings business, while also pursuing new opportunities to bring innovative products to the exchange.
Gallagher added: “On behalf of the council, I would like to thank David Brown and Jeff Conyers for their service and contributions over the past 20 plus years as chairman and deputy chairman, respectively. Through their guidance, the BSX is in a position to take full advantage of opportunities such as the Bermuda government's recently enacted Digital Asset Business Act, or DABA, which will enable us to move into new products and asset classes in the digital asset space."
David Burt, Bermuda’s Premier, said MIAX’s investment in the BSX was testament to the quality of regulation and structures Bermuda has in place to accommodate growth in the digitization of financial assets.
“MIAX Exchange Group has deep rooted experience in developing, operating and trading on exchanges,” he added. “Their investment in the BSX and specific interest in utilising opportunities provided by Bermuda's DABA is a testament to Bermuda's fintech efforts.”
Thomas Gallagher, David Brown, Jeff Conyers, Bermuda Stock Exchange, Greg Wojciechowski, MIAX Exchange Group, MIAX Global, David Burt