Japan Exchange Group (JPX) has named Moriyuki Iwanaga as its new executive officer and appointed Hiromi Yamaji as president and CEO of the Tokyo Stock Exchange (TSE).
The appointment of Moriyuki Iwanaga as director will be proposed at the annual general shareholders meeting in June this year, and he assumes the role of executive officer on 1 April.
Alongside the appointment of Iwanaga, JPX has appointed Hiromi Yamaji to head up its Tokyo bourse, also effective on 1 April.
Iwanaga joined the JPX group in 1984 and has spent the last 37 years serving across its various bourses.
Most recently, he served as a director and senior executive vice president of the Japan Securities Clearing Corporation (JSCC) both of which are roles he will retire from on 31 March to assume the role of director at a group level.
Yamaji began his financial career at Nomura in 1977, spending 30 years at the investment bank and ending his tenure at the company as executive vice president of the global investment banking business.
He joined JPX in 2013 as a company director and president of the Osaka Exchange, a role which he will be stepping down from.
Yamaji will replace the TSE’s former CEO Miyahara Koichiro, who stepped down in December following the exchange experienced its worst ever outage in October.
“Miyahara Koichiro, director, and representative executive officer, group co-COO of JPX, has taken seriously his responsibility for the failure in the arrowhead cash equity trading system that occurred on October 1, 2020,” said JPX in a December statement.
The technical failure was worsened by the fact that it fell upon a day when many funds were rebalancing their portfolios and the first day of the new quarter for the second half of Japan’s fiscal year.