TMX Executive and Leadership Team

October, 2026

Leadership Overview

TMX has 6 executives leading key functions including market strategy, financial oversight, operational transformation, human resources support, news distribution, and data product management.

Focused on empowering the international financial community, TMX delivers essential data products and services while maintaining a commitment to market integrity and global financial infrastructure excellence.

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
  • 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 services. Overseeing the integration of clearing and settlement functions, the President & Global Chief Executive Officer, Tmx Markets & Post Trade ensures robust liquidity and risk management across international financial venues. This leadership role involves driving expansion initiatives within North American and European markets to enhance trading efficiency. By aligning technological advancements with regulatory requirements, Luc Fortin strengthens the competitive position of the organization. Fortin maintains constant communication with the Board to ensure long-term stability and growth. Through the optimization of clearing house protocols, the President & Global Chief Executive Officer, Tmx Markets & Post Trade secures the reliability of the entire financial ecosystem, fostering trust among global market participants and institutional investors.

    David Arnold - Chief Financial Officer

    David Arnold, the Chief Financial Officer at TMX, manages the fiscal health and capital allocation strategies for the entire holding company. Overseeing financial reporting, treasury operations, and investor relations, the Chief Financial Officer ensures transparency and accuracy in all corporate disclosures. This leadership role involves evaluating investment opportunities to support the expansion of data products and financial services. By implementing rigorous cost-control measures, David Arnold drives operational efficiency across all subsidiaries. Arnold collaborates with the executive team to align financial planning with the broader corporate mission of supporting the international financial community. Through the management of capital structures and risk assessment frameworks, the Chief Financial Officer protects shareholder value. Ultimately, Arnold maintains the financial integrity required to sustain long-term growth and innovation within the competitive global financial landscape.
    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, drives organizational change and oversees capital formation initiatives. Managing the internal transformation roadmap, the Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer streamlines business processes to improve service delivery for global issuers. This leadership role involves architecting scalable operational frameworks that support the growth of the TSX and related capital markets. By coordinating cross-functional teams, Tala Zarbafi ensures the seamless execution of strategic projects aimed at enhancing market access. Zarbafi monitors performance metrics to identify areas for continuous improvement in operational workflows. Through the alignment of internal resources with external market demands, the Chief Operating Officer, Transformation & Global Tsx & Capital Formation Officer facilitates the efficient onboarding of new listings and the expansion of capital formation services across diverse geographic regions.

    Michael Kousaie - President, TMX Newsfile

    Michael Kousaie, the President, TMX Newsfile at TMX, directs the operations and strategic growth of the news distribution and regulatory filing services. Overseeing the technological infrastructure of the platform, the President, TMX Newsfile ensures that financial information reaches the international investment community with speed and accuracy. This leadership role involves expanding the reach of news dissemination services to meet the evolving needs of public companies and market participants. By optimizing the user experience for regulatory filings, Michael Kousaie drives higher engagement and service adoption. Kousaie collaborates with other business units to integrate news distribution with broader data product offerings. Through the management of client relationships and service quality, the President, TMX Newsfile maintains the reputation of the organization as a trusted source for financial disclosure. Ultimately, Kousaie ensures that the news platform remains a critical component of the financial ecosystem.
    Michael Kousaie

    Michelle Tran - President, TMX Datalinx

    Michelle Tran, the President, TMX Datalinx at TMX, leads the development and commercialization of data products for the global financial community. Overseeing the product lifecycle, the President, TMX Datalinx ensures the delivery of high-quality market data, indices, and analytics to institutional clients. This leadership role involves identifying emerging market trends to innovate the data portfolio and maintain a competitive edge. By managing strategic partnerships with global data vendors, Michelle Tran expands the distribution footprint of the organization. Tran coordinates with technical teams to enhance data latency and reliability, which are essential for modern trading environments. Through the alignment of product strategy with client requirements, the President, TMX Datalinx drives revenue growth and strengthens the market position of the data division. Ultimately, Tran ensures that the organization provides the actionable insights necessary for informed decision-making in global financial markets.

    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 supports the strategic initiatives of the human resources department. Facilitating communication between the Chief Human Resources Officer and the broader leadership team, the Executive Assistant To Chief Human Resources Officer ensures the efficient management of talent acquisition and employee development programs. This leadership role involves organizing complex scheduling, preparing executive briefings, and managing departmental workflows that support the organizational culture. By streamlining administrative processes, Erin Echlin enables the human resources function to focus on high-impact talent retention and organizational design. Echlin maintains strict confidentiality while managing sensitive personnel data and corporate records. Through the effective coordination of internal meetings and project timelines, the Executive Assistant To Chief Human Resources Officer contributes to the overall operational success of the human resources division.

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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 6 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.