TSE, OSE lining up new chiefs

JIJI

Tokyo Stock Exchange Group Inc. and Osaka Securities Exchange Co., scheduled to be integrated under a holding company in January, are set to name their next presidents shortly, according to sources.

TSE Senior Executive Vice President Hiroyuki Iwakuma, 60, is expected to be appointed president of the operator of the Tokyo bourse, which will focus on cash stock trading after becoming a unit of holding firm Japan Exchange Group Inc., the sources said.

OSE Deputy President Motoharu Fujikura, 65, will serve as president of the new Osaka bourse, which will offer derivatives trading services, they said.

The two operators will hold board meetings Monday to decide on the appointments.

Iwakuma is also chief operating officer at TSE Group and its derivatives subsidiary Tokyo Stock Exchange Inc, while Fujikura is a former bureaucrat at the Finance Ministry who joined the OSE group in 2005 after serving as senior official at the National Tax Agency.

Current TSE President Atsushi Saito, 73, and current OSE President Michio Yoneda, 63, will focus on managing the entire group without assuming the top posts at the subsidiaries. Saito is set to become CEO of Japan Exchange Group and Yoneda its chief operating officer.