TMX Group names Lou Eccleston chief executive

TORONTO — The TMX Group, operator of the country’s largest stock exchange, has named Lou Eccleston as its new chief executive officer.Eccleston will assume the role on Nov. 3.The company says Eccleston has more than 30 years of experience in capital markets, information services and financial sectors. He was most recently the president of S&P Capital IQ and chairman of the Dow Jones Indices. He also worked at Thomson Financial and was a long-time executive at Bloomberg LP.Eccleston is taking over the top job from Thomas Kloet, who will remain CEO until Oct. 31.Kloet had joined the TMX Group in 2008, shortly after its merger with the Montreal Exchange and as the industry headed into a period of consolidation.The TMX Group owns the Toronto Stock Exchange, the TSX Venture Exchange, the Montreal derivatives market and others. For the past year, the TMX has been focused on expanding its services as it struggles to attract more companies to list on its main exchange.The Canadian PressTom Kloet extends stay at TMX Group as replacement speculation mounts read more

Russia offers fourstep plan for Syria arms handover

first_imgRUSSIA HAS HANDED the United States a plan for the Syrian regime to hand over its chemical weapons in four stages, starting with Damascus becoming a member of the Organisation for the Prohibition of Chemical Weapons.The plan, first announced by Moscow this week, aims to avert threatened US military action in retribution for a chemical weapons attack outside Damascus that the West says was perpetrated by the Syrian regime.Revealing the details of the plan for the first time, Russia’s Kommersant daily said it had been given to the American side on Tuesday, although Russia only announced on Wednesday evening that the plan had been passed on.First stepAs a first step, Damascus would join the Organisation for the Prohibition of Chemical Weapons (OPCW), Kommersant said, quoting a Russian diplomatic source.Then Syria would have to declare the location of the chemical weapons arsenals and where they are made. The third step would be allowing OPCW inspectors into Syria to examine them.The final step would be deciding, in cooperation with the inspectors, how to destroy the weapons.Kommersant, which is known for its strong foreign ministry sources, said that who would physically destroy the weapons has yet to be decided but it was not excluded that the United States and Russia could do this jointly.Russian Foreign Minister Sergei Lavrov and US counterpart John Kerry are due to discuss the plan in Geneva in talks Thursday.Kommersant said that it was the American side who requested the talks after receiving a copy of the details of the Russian plan.- © AFP, 2013Read: Obama: “I have a deeply held preference for peaceful solutions”>last_img read more