London Stock Exchange appoints new chief executive

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David Schwimmer, a former Goldman Sachs stalwart, has been appointed as chief executive of the London Stock Exchange.

Mr Schwimmer, 49, who leaves Goldman Sachs after a 20 year career with the investment bank, will join the Stock Exchange group on 1 August.

Most recently, Mr Schwimmer served as global head of market structure and global head of metals and mining in investment banking.

He began his career at Goldman Sachs in the financial institutions group, focusing on market structure, brokerage and trading, and he also served as chief of staff to then president and chief operations officer, Lloyd Blankfein.

In addition, Mr Schwimmer spent three years in Moscow as co-head of the bank’s business for Russia/CIS.

"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," Mr Schwimmer said.

"London Stock Exchange has multiple opportunities for further attractive growth across its market leading capital formation, information services and post trade businesses. I look forward to working alongside the group’s highly capable management team to continue to deliver value for its customers, employees and shareholders," he continued.

His appointment was welcomed by Donald Brydon, chairman of the London Stock Exchange Group, who said that he was "delighted" to announce Mr Schwinner’s appointment.

"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."

David Warren, interim chief executive and group chief financial officer, will continue as group chief financial officer.

In November last year, then chief executive of the London Stock Exchange, Xavier Rolet, stepped down from his position with immediate effect at the request of the board.

At the time it was reported that Mr Rolet was stepping down following a boardroom disagreement over his future. He had been expected to leave the role in December 2018.