The London Stock Exchange Group PLC (LON:LSE) has concluded a four-month search for a chief executive.
David Schwimmer, 49, will join the group in August, bringing to an end the soap opera/farce surrounding the early departure of well-liked former boss Xavier Rolet.
Schwimmer, who joins from Goldman Sachs, will take the reins from David Warren, the LSE’s chief financial officer and interim CEO.
Changing of the guard
He stepped up to take control in November after Rolet was asked by the board to quit a year ahead of plan amid a row over succession that dragged in one of the Stock Exchange’s biggest investors.
As part of a wider boardroom changing of the guard chairman Donald Brydon said he wouldn’t stand for re-election. He was criticised by investors for the confusion and tensions surrounding Rolet’s departure.
Brydon said a “comprehensive global search” had been carried out to find the new man, whose last roles with Goldman were global head of market structure and global head of metals and mining in investment banking
“David is a leader with great experience in the financial market infrastructure sector, which he has been closely involved in throughout his investment banking career, as well as capital markets experience in both developed and emerging markets. He is well known for his robust intellect and partnership approach with clients and colleagues alike," said the LSE chairman.