TMX Executive and Leadership Team

November, 2026

Leadership Overview

TMX has 7 executives leading key functions including market operations, financial management, human resources, and data services.

Focused on empowering the global financial community, TMX delivers essential data products and infrastructure services to support international market participants through a commitment to operational excellence and long-term financial stability.

Leadership Roles at TMX

  • President & Global Chief Executive Officer, Tmx Markets & Post Trade - Luc Fortin
  • Chief Financial Officer - David Arnold
  • Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer - Tala Zarbafi
  • President, TMX Newsfile - Michael Kousaie
  • President, TMX Datalinx - Michelle Tran
  • Executive Assistant To Chief Human Resources Officer - Erin Echlin
  • Managing Director - Doug Clark
  • Luc Fortin - President & Global Chief Executive Officer, Tmx Markets & Post Trade

    Luc Fortin, the President & Global Chief Executive Officer, Tmx Markets & Post Trade at TMX, directs the strategic vision for global market operations and post-trade infrastructure. Overseeing complex clearing and settlement frameworks, the President & Global Chief Executive Officer, Tmx Markets & Post Trade ensures seamless transaction processing for international financial participants. This leadership role involves managing cross-border regulatory compliance while driving growth across North American and European trading venues. By optimizing liquidity access and risk management protocols, Luc Fortin directly impacts the efficiency of capital markets. Fortin maintains alignment with the Board to advance the competitive positioning of the organization within the global financial landscape. Through rigorous oversight of market integrity, the President & Global Chief Executive Officer, Tmx Markets & Post Trade secures the reliability of essential financial services for diverse institutional clients.

    David Arnold - Chief Financial Officer

    David Arnold, the Chief Financial Officer at TMX, manages the fiscal health and capital allocation strategies for the entire organization. Overseeing financial reporting, treasury operations, and investor relations, the Chief Financial Officer ensures transparency and accuracy in all corporate accounting practices. This role involves evaluating investment opportunities to support long-term growth while maintaining a robust balance sheet. By optimizing cost structures and capital efficiency, David Arnold directly impacts the profitability of the company's diverse subsidiaries. Arnold collaborates with the executive team to align financial planning with the broader corporate mission of providing essential data and infrastructure services. Through disciplined financial oversight, the Chief Financial Officer mitigates risk and supports the strategic objectives of the firm. This leadership role remains critical for maintaining investor confidence and ensuring the sustainable development of the company's international financial operations.
    David Arnold

    Tala Zarbafi - Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer

    Tala Zarbafi, the Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer at TMX, directs large-scale operational improvements and capital formation strategies. Overseeing the integration of new technologies and process re-engineering, the Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer ensures that internal systems support the company's growth objectives. This role involves managing the lifecycle of capital formation services to enhance the value proposition for listed companies. By driving digital transformation across the organization, Tala Zarbafi directly impacts operational agility and service delivery speed. Zarbafi collaborates with other C-suite leaders to align operational capabilities with the evolving needs of the global financial community. Through the implementation of scalable infrastructure, the Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer strengthens the company's market position. This leadership role focuses on maximizing efficiency while fostering innovation within the core business units.

    Michael Kousaie - President, TMX Newsfile

    Michael Kousaie, the President, TMX Newsfile at TMX, leads the strategic direction and operational management of the news dissemination and regulatory filing services. Overseeing the delivery of critical financial information to the market, the President, TMX Newsfile ensures compliance with regulatory standards and timely data distribution. This role involves managing the technological platform that supports public disclosure requirements for listed entities. By enhancing the reliability and accessibility of financial news, Michael Kousaie directly impacts the transparency of capital markets. Kousaie works closely with product development teams to integrate new features that improve the user experience for market participants. Through consistent focus on service quality and market relevance, the President, TMX Newsfile maintains the integrity of the information flow within the financial ecosystem. This leadership position supports the company's mission by providing essential tools for market participants to make informed investment decisions.
    Michael Kousaie

    Michelle Tran - President, TMX Datalinx

    Michelle Tran, the President, TMX Datalinx at TMX, directs the development and commercialization of data products and analytics services. Overseeing the aggregation and distribution of market data, the President, TMX Datalinx ensures that institutional clients receive high-quality, actionable insights. This role involves managing the product roadmap for data solutions that support trading, risk management, and research activities. By expanding the reach of data offerings across international markets, Michelle Tran directly impacts the company's revenue growth and market influence. Tran collaborates with technology teams to leverage advanced analytics and cloud-based delivery models. Through strategic focus on data innovation, the President, TMX Datalinx strengthens the competitive advantage of the organization. This leadership role remains essential for providing the financial community with the information necessary to navigate complex market environments and achieve superior investment outcomes.

    Erin Echlin - Executive Assistant To Chief Human Resources Officer

    Erin Echlin, the Executive Assistant To Chief Human Resources Officer at TMX, coordinates administrative operations and strategic support for the human resources department. Overseeing internal communication workflows and executive scheduling, the Executive Assistant To Chief Human Resources Officer ensures the efficient functioning of the HR leadership team. This role involves managing sensitive personnel data and facilitating cross-departmental collaboration to support organizational culture initiatives. By streamlining administrative processes, Erin Echlin directly impacts the productivity of the human resources function. Echlin assists in the implementation of talent management strategies that align with the company's goal of attracting and retaining top-tier professionals in the financial sector. Through meticulous attention to detail and operational support, the Executive Assistant To Chief Human Resources Officer enables the HR leadership to focus on high-level workforce development and organizational design, ultimately contributing to the overall success of the firm.

    Doug Clark - Managing Director

    Doug Clark, the Managing Director at TMX, executes high-level business development strategies to expand market reach across the international financial community. Overseeing institutional client relationships, the Managing Director drives engagement with data products and trading services. This role involves analyzing market trends to identify new revenue streams while maintaining strong connections with key industry stakeholders. By fostering partnerships with global investment firms, Doug Clark directly supports the expansion of the company's service portfolio. Clark coordinates with internal product teams to ensure that service offerings meet the evolving demands of modern capital markets. Through consistent focus on client satisfaction and market penetration, the Managing Director strengthens the overall competitive standing of the organization. This leadership position requires deep expertise in financial services to navigate complex market dynamics and deliver sustained value to the broader financial ecosystem.

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    Frequently Asked Questions Regarding TMX Top Executives and Leadership Team

    Who leads TMX?
    TMX is led by Luc Fortin (President & Global Chief Executive Officer, Tmx Markets & Post Trade), along with executives such as David Arnold (Chief Financial Officer) and Tala Zarbafi (Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer).
    Who is part of TMX’s executive team?
    The executive team of TMX includes leaders such as Luc Fortin (President & Global Chief Executive Officer, Tmx Markets & Post Trade), David Arnold (Chief Financial Officer), Tala Zarbafi (Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer) and other senior executives.
    How many executives does TMX have?
    TMX has 7 executives leading key business areas.
    What roles are included in TMX’s leadership team?
    The leadership team of TMX includes roles such as President & Global Chief Executive Officer, Tmx Markets & Post Trade, Chief Financial Officer, Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer, President, TMX Newsfile, President, TMX Datalinx.