Dr. David Morgan has assumed the Chairman’s role of Chi-X Australia. Morgan is currently Executive Chairman of Europe and Asia Pacific at J.C. Flowers & Co. Last month, J.C. Flowers closed its buy of Chi-X Australia, Chi-X Japan and Chi-Tech.
David Morgan appointed Chairman of Chi-X Australia
Sydney 5 April 2016- Chi-X Australia and J.C. Flowers & Co today announced that one of Australia’s most eminent and experienced financial services leaders Dr. David Morgan, AO, has assumed the Chairman’s role of Chi-X Australia, following the completion of J.C. Flowers & Co.’s acquisition of Chi-X Australia, Chi-X Japan and Chi-Tech last month.
Dr. Morgan’s previous roles include CEO of Westpac Bank between 1999 and 2008, Chairman of the Australian Bankers Association, Senior Deputy Secretary at the Federal Treasury during the 1980’s, and an international adviser to the current Government’s Financial Systems Inquiry in 2014. He is currently Executive Chairman of Europe and Asia Pacific at the global private investment firm J.C. Flowers & Co, as well as a non-executive director of One Savings Bank and Castle Trust in the UK, Deputy Chairman of NIBC Bank in the Netherlands, a member of the Supervisory Board of HSH Nordbank in Germany and a Senior Advisor to the Board of Shinsei Bank in Japan.
David Morgan said, “All of us at J.C. Flowers & Co look forward to working with the team to build Chi-X’s value proposition, service range and market presence in the coming years.
“Chi-X has made excellent progress in Australia adding depth and liquidity to the market, with more than $1 billion in shares and derivatives being traded every day on its marketplaces. Chi-X has shown itself to be at the forefront of innovation with its integrated order book and its new investment products marketplace, and this will continue.
“Last week’s decision by the Federal Government to enable a competitive and innovation friendly environment for clearing is a positive development for Australia’s financial services sector, and advances the imperatives for Australia of building world class financial infrastructure and engaging efficiently with international capital and offshore markets,” David Morgan said.
About Chi-X Australia
Chi-X Australia offers a valuable marketplace for trading ASX securities using its low latency, high performance, proven trading system. Its launch introduced to the Australian market innovative new orders types, the potential for lower costs and a more efficient way to trade.
In April 2015 Chi-X Australia won “Best Alternative Trading System” of the year by leading regional financial publication The Asian Banker.
In November 2015 Chi-X launched its a new investment products trading and issuing platform in Australia.
In March 2016 Chi-X Australia became wholly owned by J.C. Flowers & Co., a private investment firm dedicated to investing globally in the financial services industry.
About J.C. Flowers & Co. LLC
J.C. Flowers & Co. is a leading private investment firm dedicated to investing globally in the financial services industry. Founded in 1998, the firm has invested more than $10 billion of capital in 44 portfolio companies in 15 countries. In addition, J.C. Flowers & Co. has generated more than $4 billion of co-investment opportunities since inception.
J.C. Flowers & Co. invests across a range of deal types and industry sectors including banking, insurance and reinsurance, securities, services and asset management, and specialty finance. With approximately $8 billion of assets under management, J.C. Flowers & Co. has offices in New York and London. For more information visit jcfco.com/.