London Stock Exchange Group PLC have announced that it has appointed former Goldman Sachs Inc executive David Schwimmer as its new chief executive officer from the start of August.
Schwimmer will replace David Warren who has served as interim CEO since November when long-standing boss Xavier Rolet left the markets infrastructure company amid controversy over how his departure was agreed and handled.
Warren will continue as chief financial officer of the FTSE 100-listed firm.
Schwimmer joins the LSE after a two decade career at US banking giant Goldman Sachs. Most recently he served as global head of Market Structure and global head of Metals & Mining within Goldman’s investment banking business.
Schwimmer said: “It is an honour and privilege to be asked to lead London Stock Exchange Group. It is both an iconic institution and a great business. Having worked with exchanges and other market infrastructure companies for much of the past 20 years, I have been impressed by its strong track record of partnering with customers to deliver innovative solutions. LSEG has multiple opportunities for further attractive growth across its market leading capital formation, information services and post trade businesses.”
LSE Chairman Donald Brydon added he was “delighted” to appoint Schwimmer after a “comprehensive global search” for its new head.
He said: “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.”