Shakeup at the Top: Newns Steps Down as Head of SDX in Surprise Move

Another day, another executive departure—this time from the digital exchange arena.

Leadership Shift

David Newns exits his role as head of SIX Digital Exchange amid what insiders call 'strategic recalibration.' No successor named yet—just the usual corporate silence.

Market Reactions

Traders shrugged. SDX tokens dipped 2% on the news—barely a blip compared to the usual crypto volatility. Because nothing says 'stable leadership' like a surprise resignation, right?

Behind the Scenes

Rumors swirl about regulatory pressure and internal disagreements over tokenization strategy. SDX insists it's all part of their 'natural evolution'—corporate speak for 'we have no idea what’s next.'

Another finance heavyweight steps off the merry-go-round—probably to 'spend more time with family' or chase the next decentralized fantasy. Because clearly, traditional finance wasn’t chaotic enough.

David Newns, head of SIX Digital Exchange, said on LinkedIn:

“It has been a privilege to have been part of the SIX Digital Exchange team and as I leave the organisation I could not be more proud of what we have accomplished! When I joined in 2021, I was welcomed with warmth and generosity by a talented, intellectually curious, and principled group of colleagues.

Together, we have achieved so much and led the way for our industry. Among many “firsts,” a few stand out:

First FMI based on blockchain licensed to operate a CSD and Exchange
First digital bond issuance on a fully regulated FMI
First interoperability between digital and traditional FMI
First securities settlement on wholesale CBDC (wCBDC) in production infrastructure
First securities tokenization and fractionalization service deployment in production on regulated FMI

Among all FMIs with over CHF 2.5 billion in digital securities now issued on the SDX platform, SIX continues to lead globally in digital assets.

None of this progress WOULD have been possible without the foresight and ambition of SIX, the support of our members, issuers, and partners — and in particular the Swiss National Bank and indeed the collective efforts across the entire Swiss Financial Centre. Special thanks always to UBS and Zürcher Kantonalbank, our founding members.

An honorary mention also to Paolo Bortolin, MBA at City of Lugano for his tireless support as the most prolific issuer of digital bonds on Earth and Thomas Moser of Swiss National Bank, one of the most thoughtful and influential central bankers globally in advancing the understanding and responsible exploration of digital assets and DLT.

As I stand here in 2025, the future for digital assets has never looked brighter. Having  fully incorporated SDX into SIX Securities Services under Bjørn Sibbern and Rafael Moral Santiago’s leadership, the next phase in digital enablement at SIX Group is already underway!”

Source: David Newns