Date: January 24, 2017
SIAS is pleased to announce the appointment of Mr Magnus Böcker as its 4th Honorary Chairman with effect from 1 February 2017. Our 3rd Honorary Chairman, Mrs Lim Hwee Hua is stepping down, after having served 3 years. We are grateful to Mrs Lim for being our Honorary Chairman during whose term, SIAS became a Charity and an Institution of Public Character. The Management Committee is indeed grateful for her keen interest in SIAS, guidance and leadership provided to us during her tenure as Chairman.
“I am thankful for the opportunity to help further SIAS’ mission in representing shareholders’ interests, especially those of the minority. Much work remains to be done and I would like to wish the Management Committee all the very best as they continue to build on their good work thus far and enhance members’ appreciation of markets and their rights.” – Lim Hwee Hua, outgoing Honorary Chairman
The appointment of the Honorary Chairman, who will be independent and non-executive, is to provide the check and balance within the Association, as provided for by our Constitution. The Chairman can intervene in the event he is of the view that the President and or the Committee has acted in breach of the Association’s Constitution or not acting in the interest of the Association. In that case, he can direct the President or the Committee, as the case may be, to comply with the Constitution forthwith and to act in the interest of the Association.
Mr Böcker holds over three decades of experience in the financial industry. He was the CEO of the Singapore Exchange from 2009 – 2015, and previously the President of Nasdaq. Prior to that, he played an instrumental role in the creation of OMX, the Nordic exchange and technology group, and the eventual merger of OMX and Nasdaq in 2008. During his tenure with OMX, Mr Böcker served in various capacities, including being CFO, COO and president of the OMX Technology division, before he became CEO of OMX in 2003. Under his leadership, OMX became the world’s largest provider of technology solutions for exchanges and clearing organisations.
“The choice of Mr Böcker as Chairman was largely due to the strong interest in SIAS he displayed during his tenure as Chief Executive of the Singapore Exchange and his willingness to work with SIAS. His vast experience in developing capital markets both in and out of Singapore will be an advantage to SIAS and its members. We look forward to Mr Böcker’s valuable contributions in furthering our objectives to benefit the retail constituency.” – David Gerald, Founder, President & CEO, SIAS
“I am honoured to be appointed as SIAS’ 4th Honorary Chairman. SIAS has been successful in educating Singapore retail investors, promoting good corporate governance and protecting the rights for minority shareholders for the last 19 years. I will now continue to support the Management Committee in their mission to educate and protect, but also to develop SIAS to be a stronger organisation for a challenging future. I started to invest in the stock market in my early teens and most of my education at the time came from Aktiespararna, the Swedish equivalent of SIAS. For that, I am very grateful and is also a reason why I now look forward to assisting SIAS.” – Magnus Böcker, Hon. Chairman, SIAS
For Management Committee
Securities Investors Association (Singapore)