London Stock Exchange Group Turns To Goldmans Schwimmer As Ceo

London Stock Exchange Group Turns To Goldmans Schwimmer As Ceo

- The London Stock Exchange (LSE.L) named Goldman Sachs' veteran David Schwimmer as chief executive officer on Friday after a boardroom battle led to

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Goldmans Schwimmer To Steer London Stock Exchange Through Brexit

– The London Stock Exchange (LSE.L) named Goldman Sachs’ veteran David Schwimmer as chief executive officer on Friday after a boardroom battle led to the departure of Xavier Rolet in November.

The appointment of Schwimmer, an American who has been with Goldman for 20 years and most recently served as global head of market structure and global head of metals and mining in investment banking, takes effect on Aug. 1.

Frenchman Rolet stepped down last year after almost a decade at the helm, during which he transformed the company with a string of deals, lifting its market value to almost 14 billion pounds ($19.9 billion) from less than 1 billion.

Schwimmer takes charge as Britain’s planned departure from the European Union in 2019 raises questions about the LSE’s strategy at the heart of Europe’s biggest financial center.

Schwimmer will have to protect LSE’s dominance in clearing, as it risks losing a chunk of its derivatives clearing business to Deutsche Boerse (DB1Gn.DE) because of Brexit.

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