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The 2017 Tech 40: Lou Eccleston

< The 2017 Tech 4028. Lou EcclestonChief Executive OfficerTMX GroupLast year: 27

When Lou Eccleston took over as chief executive officer of Toronto's TMX Group in 2014, he promptly began throwing words like "entrepreneurial" and "technology driven" around what had been a staid exchange-operating holding company. Eccleston set TMX — the owner of trading venues including the Toronto Stock Exchange, Montreal Exchange, and TSX Venture Exchange — on course to being a global technology-enabled services business, while seeking to reverse multiple down years on the bottom line. He had already established a reputation for being unabashed in his embrace of digital disruption in his previous role as president of McGraw Hill Financial's S&P Capital IQ, where his culture-changing efforts included the creation of an innovation hub with Google-like workspaces and amenities. At TMX, Eccleston accomplished a turnaround to what he calls "profitable growth, achieving both record revenue and earnings while continuing to pay down significant amounts of debt" in 2016. In the first quarter of this year, revenue rose 5 percent from a year earlier to $186 million, and income from operations jumped 17 percent to $81 million. "This is the strongest digital effort I have ever been involved in," says Eccleston. At age 60, he says it's full speed ahead.

 The 2017 Tech 40Click below to view profiles
1. Adena FriedmanNASDAQ2. Catherine BessantBank of
America Corp.3. Robert GoldsteinBlackRock4. Jeffrey SprecherIntercontinental Exchange5. Lance UgglaIHS Markit
6. Shawn Edwards & Vlad KliatchkoBloomberg7. David CraigThomson Reuters8. Michael SpencerNEX Group9. Don CallahanCitigroup10. Elisha WieselGoldman Sachs Group
11. Michael BodsonDepository Trust & Clearing Corp.12. Terrence DuffyCME Group13. Charles LiHong Kong Exchanges and Clearing14. Sean BelkaFidelity Investments15. Chris ConcannonCBOE Holdings
16. Guy ChiarelloFirst Data Corp.17. Steven LieblichCitadel18. David RutterR3CEV19. Blythe MastersDigital Asset Holdings20. Alfred SpectorTwo Sigma Investments
21. Neil KatzD.E. Shaw Group22. Lee OleskyTradeweb Markets23. Richard McVeyMarketAxess Holdings24. David GledhillDBS Bank25. Seth MerrinLiquidnet Holdings
26. Antoine ShagouryState Street Corp.27. Peter Brown &
Robert Mercer
Renaissance Technologies28. Lou EcclestonTMX Group29. Peter CherecwichNorthern Trust Corp.30. Mike ChinnS&P Global Market Intelligence
31. Chris CorradoLondon Stock Exchange Group32. Neal PawarAQR Capital Management33. Gary NorcrossFidelity National Information Services34. Steven O'HanlonNumerix35. Sebastián CeriaAxioma
36. Brian ConlonFirst Derivatives and Kx Systems37. Tyler KimMaplesFS38. Michael CooperBT Radianz39. Robert SchifelliteBroadridge Financial Solutions40. Jim MinnickeVestment