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Senior Management

Jay Rajarathinam

Jay Rajarathinam

President, CDS and CDCC
Chief Technology and Operations Officer, TMX Group Limited

Mr. Jay Rajarathinam is President of CDS and CDCC and Chief Technology and Operations Officer for TMX Group Limited. He is responsible for the development and execution of the overall technology vision and strategy for TMX, focusing on enabling business growth through technology innovation and optimizing operations. Mr. Rajarathinam has almost 20 years of financial services technology experience, and has managed global teams across a wide range of infrastructure and application domains, including trading, clearing, e-commerce, security and surveillance systems, and networks. Prior to joining TMX Group in July 2016, he served as Senior VP, Global Head of Infrastructure at NYSE / Intercontinental Exchange. Earlier in his career, Mr. Rajarathinam held senior technology leadership positions at Barclays and at Wells Fargo.

Mr. Rajarathinam holds a MS in Computer Science from the University of Illinois and an MBA in Finance and Strategy from the University of Chicago.

Wayne Ralph

Wayne Ralph

Chief Operating Officer, CDS

Mr. Wayne Ralph is Chief Operating Officer of CDS. Mr. Ralph has over 25 years' experience in the financial services industry, including a strong operations focus at two of Canada's leading financial institutions. Previously, Mr. Ralph was the Executive Vice President, Global Operations and INTRIA at Canadian Imperial Bank of Commerce. Mr. Ralph's previous role includes Managing Director, Infrastructure at CIBC's Global Operations team. Before joining CIBC, Mr. Ralph was at RBC Dominion Securities as Vice President and Managing Director – National Securities Operations.

Mr. Ralph holds a Bachelor of Commerce from University of Toronto.

George Kormas

George Kormas

Vice-President, Chief Risk Officer, CDCC
Chief Risk Officer, CDS

Mr. George Kormas is the Vice-President, Chief Risk Officer for CDCC and the Chief Risk Officer for CDS with responsibility for the overall risk profile and risk management operations for the two clearinghouses. He brings a depth of experience spanning financial industries and the field of risk management.

Mr. Kormas holds a Master of Science in Finance (MSc) from Concordia University, Montreal.

Joseph Ernst

Joseph Ernst

Chief Compliance Officer, CDS and CDCC
Vice President, Legal and Business Affairs, TMX Group Limited

Mr. Joseph Ernst has been the Chief Compliance Officer of CDS and CDCC since December 2017 and as Vice President, Legal and Business Affairs, for TMX Group Limited, the ultimate parent of CDS and CDCC, since August 2015. Mr. Ernst previously served as Vice President, Commercial & Compliance, for TMX Group Limited from January 2013 to August 2015 and has served in various roles in the legal department of TMX Group Limited since 2001.

Mr. Ernst holds a Bachelor of Laws degree from Osgoode Hall Law School.