TMX Group Ltd. said Monday it has selected Lou Eccleston to lead the organization as its chief executive officer.

Eccleston, who will assume the role effective November 3, will also become a member of the TMX Group (TSX:X) board of directors.

Eccleston brings to TMX Group more than 30 years of extensive experience gained in senior leadership roles in the information services, financial technology and capital market services sectors. Most recently, he was president, S&P Capital IQ and chairman of the board, S&P Dow Jones Indices, which are business lines of McGraw Hill Financial.

Previously, Eccleston was at Thomson Financial in the roles of president of global sales, marketing & services and president of the banking and brokerage Group. He was at Bloomberg LP, where he held a number of roles including chief executive of Bloomberg Tradebook. He also served as chairman and CEO of Pivot Inc., a capital market software services company.

Chuck Winograd, Chair of TMX Group Limited, said: “The Board of Directors undertook an extensive international search for our new CEO. It was clear that Lou has the right skill set, experience and proven track record to be successful in this critical role. It was also the Board’s view that he has the expertise and instincts to effectively lead the company in this rapidly-evolving operating environment.”

Eccleston is the successor to Tom Kloet, who announced his intention to retire from the company in March 2014. As previously announced, Kloet has agreed to remain as CEO until October 31.