The latest rumblings from the search for a new CEO at the merged Toronto and Montreal exchanges has the inside candidates facing some serious external competition.
The boards of the merging exchanges are determined to interview any and all potential candidates, so executive search firm Korn/Ferry International is casting a wide net.
Along with a number of international candidates - consolidation has produced a lot of experienced talent that's looking for work - Korn-Ferry made overtures to former National Bank Financial, Dundee Securities and TD Securities CEO Kym Anthony, and ex-CIBC World Markets CEO Brian Shaw. Mr. Anthony brushed up on his French while at National Bank Financial, and Mr. Shaw has spent his career around trading desks.
Exchange types say three current employees in the running for the top job at what will be known as TMX Group, already nicknamed Tex-Mex in some circles.
The prohibitive favourite is Montreal Exchange CEO Luc Bertrand, who has done a stand-up job and would satisfy some of the nationalist concerns expressed within Quebec since the merger was announced in December.
TSX executives Rik Parkhill, a trading expert, and Michael Ptasznik, the exchange's CFO, are the other two likely insiders. They have been interim co-CEOs at the TSX since Richard Nesbitt left in February for the top job at CIBC World Markets.
