October 27, 2014
The World Federation of Exchanges (WFE), the global trade association of publicly regulated exchanges, today announced that Mr. Hüseyin Erkan, Chief Executive Officer of the WFE, will retire at the end of this month following the 54th General Assembly and Annual Meeting in Seoul, South Korea.
Mr. Andreas Preuss, Chairman of the WFE Board of Directors, said "Our Board is grateful to Hüseyin Erkan for stepping into the CEO roll at a time of great transition for the Federation. He led WFE's successful move to its new London headquarters from its Paris home base of 52 years. His oversight throughout his tenure has enabled WFE to continue to fulfill its long-standing commitment to improve the safety and integrity of the world's regulated exchanges, while positioning the organization to carry that mission forward in today's rapidly changing global marketplace. We thank him for his service and dedication."
Mr. Erkan has been an active participant in the WFE for over 16 years, representing Istanbul Stock Exchange and serving on the WFE Board of Directors for three years before being named CEO when the role was created in 2012. During his tenure as CEO, he oversaw a number of initiatives on topics of major significance to the global exchange space, including the launch of important WFE working groups focused on Sustainability and Cyber Security.
The WFE will continue to be run by Ms. Nandini Sukumar on a daily basis. Ms. Sukumar, hired earlier this year by the Board of Directors as Chief Administrative Officer, will continue to work with the WFE's network of exchanges as a proponent of the membership's unified global views on the benefits of exchange trading. The Board of Directors will seek a replacement for Mr. Erkan.
Mr. Erkan, retiring chief executive of WFE, said: ''It has been my great privilege to serve WFE through this momentous time. It has always been a special organization for me and I look forward to watching its evolution. Exchanges lie at the heart of the world's capital markets. WFE remains resolute and committed to moving forward at a time when exchanges have a greater role to play than ever.''