TMX Executive and Leadership Team

July, 2026

Leadership Overview

TMX has 8 executives leading key functions including strategy, finance, human resources, revenue, operations, and data products.

Driven by a commitment to innovation, TMX provides essential data products and services to the global financial community, fostering market integrity and growth since its establishment in 1852.

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 Datalinx - Michelle Tran
  • President, TMX Newsfile - Michael Kousaie
  • Executive Assistant To Chief Human Resources Officer - Erin Echlin
  • Deputy Chief Revenue Officer - Jonathan Bérubé
  • Chief Human Resources Officer - Cynthia Bush
  • 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 company's core market operations and post-trade services. This leadership position involves architecting strategies that enhance market efficiency and integrity for the international financial community. Fortin oversees the critical functions that support trading activities and ensure the smooth settlement of transactions across TMX's platforms. The scope of this role extends to driving innovation within TMX's market infrastructure, adapting to evolving financial landscapes, and maintaining TMX's competitive edge. By focusing on robust operational frameworks, Luc Fortin ensures the reliability and scalability of TMX's market offerings, directly impacting the company's ability to serve its global clientele and uphold its reputation as a trusted financial services provider. This executive's mandate includes fostering strong relationships with regulators and key stakeholders to advance TMX's strategic objectives.

    David Arnold - Chief Financial Officer

    David Arnold, the Chief Financial Officer at TMX, manages the company's comprehensive financial strategy and operations. This role encompasses overseeing all fiscal activities, including financial planning, budgeting, risk management, and investor relations, ensuring TMX's financial health and sustainable growth. Arnold's responsibilities extend to optimizing capital allocation and driving financial performance across all subsidiaries. The Chief Financial Officer plays a pivotal part in shaping TMX's long-term financial objectives, aligning them with the company's mission to serve the international financial community. By providing critical financial insights and analysis, David Arnold supports strategic decision-making, enabling TMX to navigate complex market dynamics and capitalize on emerging opportunities. This executive's leadership ensures robust financial controls and transparent reporting, reinforcing TMX's commitment to stakeholder value and operational excellence.
    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 critical operational transformations and oversees capital formation initiatives. This multifaceted role involves driving strategic changes to enhance operational efficiency and market competitiveness across TMX's global platforms. Zarbafi's responsibilities include leading transformation projects that modernize TMX's infrastructure and service delivery, ensuring alignment with the company's commitment to innovation and client service. The Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer plays a pivotal part in optimizing TMX's market operations and capital markets functions. By focusing on strategic execution and operational excellence, Tala Zarbafi ensures TMX effectively supports capital formation for businesses and provides essential services to the international financial community, driving sustainable growth and market leadership.

    Michelle Tran - President, TMX Datalinx

    Michelle Tran, the President, TMX Datalinx at TMX, leads the strategic direction and operational execution of TMX's data products and services division. This executive role is central to delivering high-quality data solutions that empower the international financial community. Tran oversees the development, marketing, and distribution of TMX Datalinx's comprehensive suite of data products, ensuring they meet the evolving needs of clients worldwide. The President, TMX Datalinx plays a crucial part in driving innovation within the data services sector, leveraging advanced technologies to enhance data accuracy and accessibility. By focusing on client success and market expansion, Michelle Tran ensures TMX Datalinx remains a leading provider of financial data, contributing significantly to TMX's overall mission and market impact.

    Michael Kousaie - President, TMX Newsfile

    Michael Kousaie, the President, TMX Newsfile at TMX, spearheads the strategic growth and operational management of TMX's news distribution services. This leadership position is critical for ensuring timely and accurate dissemination of corporate news and financial information to global markets. Kousaie oversees the development and enhancement of TMX Newsfile's platform, focusing on delivering robust solutions that meet the stringent requirements of public companies and the financial industry. The President, TMX Newsfile plays a vital role in expanding TMX's reach within the capital markets ecosystem, facilitating effective communication between issuers and investors. By driving operational excellence and client-centric strategies, Michael Kousaie ensures TMX Newsfile upholds its reputation for reliability and service, supporting TMX's broader mission to serve the international financial community.

    Erin Echlin - Executive Assistant To Chief Human Resources Officer

    Erin Echlin, the Executive Assistant To Chief Human Resources Officer at TMX, provides essential administrative and operational support to the Chief Human Resources Officer. This role is critical in facilitating the smooth functioning of the human resources department, ensuring efficient communication and coordination of HR initiatives. Echlin manages complex scheduling, prepares key documentation, and supports the execution of HR strategies that align with TMX's overall business objectives. The Executive Assistant To Chief Human Resources Officer acts as a key liaison, coordinating meetings and projects that impact employee relations, talent management, and organizational development. By maintaining meticulous organization and proactively addressing administrative needs, Erin Echlin enables the Chief Human Resources Officer to focus on strategic HR leadership, thereby contributing to a productive and supportive work environment at TMX.

    Jonathan Bérubé - Deputy Chief Revenue Officer

    Jonathan Bérubé, the Deputy Chief Revenue Officer at TMX, drives revenue generation strategies and oversees key sales initiatives. This executive role focuses on expanding TMX's market reach and increasing revenue streams through effective sales leadership and client engagement. Bérubé collaborates closely with various departments to identify new business opportunities and optimize existing revenue channels, ensuring TMX's financial growth objectives are met. The Deputy Chief Revenue Officer plays a crucial part in developing and implementing sales plans that align with the company's mission to provide data products and services to the international financial community. By fostering strong client relationships and leading the sales team, Jonathan Bérubé directly contributes to TMX's market position and profitability, ensuring sustained success in a competitive landscape.

    Cynthia Bush - Chief Human Resources Officer

    Cynthia Bush, the Chief Human Resources Officer at TMX, leads the company's human capital strategy, focusing on talent acquisition, development, and employee engagement. This executive role is vital in cultivating a high-performing organizational culture that supports TMX's mission and values. Bush oversees the implementation of HR policies and programs designed to attract, retain, and develop a skilled workforce capable of serving the international financial community. The Chief Human Resources Officer plays a key part in shaping TMX's employee experience, ensuring a supportive and inclusive work environment. By driving initiatives related to compensation, benefits, and professional growth, Cynthia Bush ensures that TMX remains an employer of choice, fostering innovation and operational excellence across all its subsidiaries.

    Explore Leadership Teams in Holding Companies & Conglomerates

    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 8 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 Datalinx, President, TMX Newsfile.