As 2024 kicks off, SRP looks back at the most relevant people moves in the structured product industry in the past year. Today we focus on exchanges.

Australian Stock Exchange (ASX)

The ASX appointed Darren Yip as its new group executive, markets. Yip, who started his new role in March, is responsible for the largest business line among ASX’s four divisions. He reports to Helen Lofthouse (right) who was promoted to the CEO role in August 2022. Yip replaced the two acting markets co-heads, Jamie Crank and Fiona Tramontana, who remained on the markets management team, returning to their roles leading the trading and rates teams, respectively.

Yip joined ASX from Morgan Stanley where he was managing director and co-head of prime brokerage from 2013 to 2021. Prior to that, he was Morgan Stanley’s head of delta one structured products where he led a team providing local access to Asia Pacific equity markets through OTC derivative products. Yip parted ways with Morgan Stanley in June 2021.


The supervisory board of Euronext appointed Benoît van den Hove (right) as CEO and chairman of Euronext Brussels and member of the managing board of Euronext N.V.

Van den Hove, who previously was head of listing for Belgium and Luxembourg at Euronext, replaced Vincent Van Dessel, who stepped down as CEO of Euronext Brussels as he will reached retirement age in December 2023.

Van den Hove has been at Euronext since 2018. He joined the exchange from ING where he spent 17 years in various roles, including as head of a team supporting the capital markets activities of ING such as structured products, debt and equity. His most recent role at the Dutch banking group was that of head legal financial markets Belgium, heading a team of 10 lawyers active in financial markets, both for derivatives and capital markets.

Between January 2016 and July 2018, Van den Hove also had a stint as chairman of the legal committee & board member the Belgian Structured Investment Products Association (Belsipa). As chair of Belsipa legal committee, he was also member of the Eusipa legal committee.

Harrold Prins (right) started a new position as head of commercial relationships at Euronext. In his new role, Prins focuses on the business development of the structured products market across Europe.

Prins, who is based in Amsterdam, has been at Euronext for almost 23 years, most recently as commercial manager index with responsibility for the commercial development of the various Euronext indices. Prior to that he fulfilled various marketing and sales manager roles, also at Euronext Indices, since December 2000.

Prins’s appointment followed the promotion of Massimo Giorgini to the role of head of Italy, equity, derivatives, structured products and buyside sales, expanding his previous role as head of Italy equity, derivatives & structured products sales which he held since February 2022 with the addition of the coverage of the distribution segment.

Giorgini joined Euronext as head of equity and derivatives markets business development in 2021.

Before joining Euronext, Giorgini was head of equity and derivatives markets business development at the London Stock Exchange Group (LSEG) for 13 years. He is also a member of the Mifid 2 committee at FIA Europe and a member of the board at the Italian foundation of finance and savings.

Both Prins and Giorgini report to Fabrice Rahmouni, head of index department at Euronext, in Paris.

Hong Kong Exchanges and Clearing Limited (HKEX)

HKEX appointed Bonnie Y Chan as co-chief operating officer (co-COO) and Katherine Ng as head of listing.

Together with Wilfred Yiu as co-COOs, Chan (right) oversees all operational activities of HKEX’s business, reporting to HKEX chief executive officer Nicolas Aguzin.

As co-COO and head of equities, Yiu continued to be responsible for HKEX’s cash, derivatives, clearing and depository businesses. Yiu also remained chief executive of both The Stock Exchange of Hong Kong Limited and Hong Kong Futures Exchange Limited.

Ng succeeded Chan as head of listing. Ng joined HKEX in 2013 as head of policy and secretariat services, listing division. She also reports to Aguzin.

In February, HKEX appointed Matthew Cheong (right) as managing director, head of structured products and platform business development.

In this new role, Cheong is leading HKEX’s structured products team and driving initiatives to develop the group’s platform business.

Cheong, who reports to Yiu, joined the exchange from Goldman Sachs’ global markets division. At Goldman, he was co-head warrants market making desk, co-head equities technologies, delta one, derivatives, and retail structured products, until January 2023.

Cheong also had a one-year stint at Morgan Stanley and worked at J.P. Morgan for six and a half years focusing on developing trading systems and technology as executive director.

In September, Catherine Yien (right) was appointed as the new managing director, head of listed issuer regulation in the listing division.

Yien succeeded Christine Kan, who retired from the group after 27 years of service. Yien joined HKEX from Rothschild & Co, where she worked for nearly 28 years and served in various roles, including director and chief operating officer and compliance officer. Most recently, she was the managing director of the firm’s global advisory team.

In her new role at HKEX, Yien is leading the team responsible for the frontline regulation of over 2,600 listed issuers in Hong Kong, supporting issuer understanding and compliance with the listing rules and working with directors and senior executives across the issuer space. She reports to Ng.

SIX Swiss Exchange

The Swiss exchange appointed Bjørn Sibbern (right) as global head exchanges and member of the executive board of SIX. Sibbern, who started his new role on 1 January 2024, previously was serving as executive vice president and president of European markets at Nasdaq. At SIX, Sibbern replaced Christoph Landis, who had headed the exchange business of SIX on an interim basis since February. Landis returned to his previous role as head IT and member of the SIX executive board.

Sibbern has spent 20 years in the global exchange arena, specialising in trading, funds, post-trade, listings, IPOs, data, indices, and technology. He is responsible for both the Swiss and Spanish exchanges at SIX, as well as the digital exchange SDX.

SIX named Marc Honegger head of standards, quality & analytics in October.

Honegger was head of product operations and commercials for one and a half year after leading the content and commercial unit for five years. He joined SIX from UBS wealth management in 2016. At UBS, he was managing director and head of investment products & services, structured products.

Main image: Bluraz/Adobe Stock.