SDX CEO Martin Halblaub Resigns After Strategic Differences

Halblaub will remain with SDX as a senior advisor.

Martin Halblaub, the Chief Executive Officer (CEO) of Switzerland’s SIX Digital Exchange (SDX), the crypto arm of the SIX Swiss Exchange, is stepping down due to strategic differences, according to a report from local news outlet SwissInfo.

The move was first announced by an internal memo issued on August 13, which the news outlet has seen and linked to its initial report. According to the memo, Halblaub will step down as the Head of SDX by August 30 this year.

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The strategic differences which led to Halblaub’s departure reportedly refer to him wanting to launch SDX as an independent company, whereas the board of the parent company SIX Group did not agree. 

In the memo posted by SwissInfo, Halblaub said: “I fully support SDX’s ambition and business model and would have loved to lead SDX into the future. However, I have decided with a heavy heart – given our differing ideas on strategy, combined with the stretch the role is for my life model – that I cannot engage in a long term commitment as Head of SDX.” 

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Tomas Kindler to be interim CEO of SDX

In the interim period, Tomas Kindler will head the crypto exchange as of the 1st of September. He is currently number two to Thomas Zeeb, head of securities and exchanges at SIX, who wrote the memo.

SDX has now launched an executive search for a new CEO, a role that Tomas is also a strong candidate for, the memo said. At present, he has agreed to do the role for the interim period until he is either confirmed in the position or will resume his wider BXS responsibilities once a new Head of SDX is found. 

“Martin led SDX through its initial phase with great success. He helped shape SDX’s ambition, strategy and business model and has built a strong Management team around him. We thank him for his support during this phase,” added Jos Dijsselhof, the CEO of SIX.

Halblaub’s time in the leading role at SDX was short-lived, as he held the role for only eight months. However, although he will be stepping down as CEO, he won’t be completely leaving the company and will stay on as a senior advisor.

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