Directorate Change

RNS Number : 9441P

London Stock Exchange Group PLC

11 June 2015

 



11 June 2015

London Stock Exchange Group appointments reinforce Group focus on North America

-      Mary Schapiro appointed as Non-Executive Director to LSEG Board

-      David Weisbrod becomes LSEG USA Country Head

-      Reflects growing importance of region for LSEG

London Stock Exchange Group plc ("LSEG" or the "Group") today announces that Mary Schapiro, will join the Group Board as a Non-Executive Director, with effect 1 July 2015. Mary brings considerable experience and a deep understanding of US financial markets, which will be of significant benefit to the Group as it expands its operations in North America.

Chris Gibson-Smith, Chairman of London Stock Exchange Group plc, commented:

"I am delighted to welcome Mary Schapiro to the Group Board. Mary's extensive knowledge of the US financial and regulatory landscape, her broad global markets experience, and her understanding of complex financial infrastructure will be of great value to the Group as we continue to grow our global footprint."

During her distinguished career, Mary Schapiro has held senior regulatory positions including, from 2009 to 2012, the Chairman of the US Securities & Exchange Commission. She has also variously held the Chairmanships of the Financial Industry Regulatory Authority (FINRA), and its predecessor, the National Association of Securities Dealers Regulation, and the Commodity Futures Trading Commission (CFTC). In these roles, Mary has made a significant contribution to shaping US financial regulatory policy as well as overseeing activity within the US financial markets.

There are no other matters relating to the new director which would require disclosure under Listing Rules 9.6.13R.

In addition, LSEG is pleased to confirm David Weisbrod has been appointed as the Group's country head for the USA. In this new role, David will work closely with the business divisions and functions to guide and coordinate LSEG's relationship with its main regulators and other public stakeholders. He will also focus on the development and implementation of LSEG's strategic plans across the region, represent the Group at key events, help drive cross-divisional collaboration, and oversee the Risk, Compliance and Regulation agenda in the USA.  Mr Weisbrod will continue in his position as CEO of LCH.Clearnet LLC. 

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For further information:

Victoria Cowley	Media	[phone]
Paul Froud	Investor Relations	[phone]

Notes to editors:

Mary Schapiro

Current board roles

2014 to date                  Vice-Chairman, Sustainability Accounting Standards Board (SASB)

2014 to date                  Vice-Chairman, advisory board, senior adviser Promontory Financial Group LLC

2013 to date                  General Electric Co

Former board roles

2001 - 2009                   Kraft Foods

2006 - 2009                   Duke Energy Corp

1999 - 2006                   Cinergy Corp

Summary of experience

2015 - to date               Senior Advisor for Governance and Regulatory Matters, Hudson Executive Capital

2014 - to date               Advisory Board Member, SpruceView Capital

2013 - 2014                   Managing Director, Governance and Markets, Promontory Financial Group LLC

2009 - 2012                   Chairmanship, US Securities & Exchange Commission    

1996 - 2009                   Various roles including, CEO and Chairmanship of Financial Industry Regulatory Authority FINRA and its predecessor the National Association of Securities Dealers Regulation Inc (NASDR)

1994 - 1996                   Chairman, Commodity Futures Trading Commission

1993 - 1994                   Acting Chairman, US Securities & Exchange Commission

1988 - 1994                   Commissioner, US Securities & Exchange Commission

1984 - 1988                   Senior Vice President and General Counsel, Futures Industry Association

1980 - 1984                   Assistant to the Chairman and Counsel, Enforcement Division, Commodity Futures Trading Commission

Education

George Washington University Law School - JD, 1980

Franklin and Marshall College, Lancaster, PA - BA, Anthropology, 1977

David Weisbrod

Summary or experience

2013 to date                  Chief Executive Officer, LCH.Clearnet LLC, USA

1973 - 2012                  JP Morgan Chase

-     Vice Chairman, Risk Management

-     Chief Risk Officer, Treasury & Securities Services

-     Credit Policy Officer, Asia & Middle East Banking

-     Corporate Banking Manager, Asia & Middle East Banking

-     Credit Executive, Real Estate Finance Division

-     Corporate Credit Audit Executive

-     Senior Vice President, Risk Management, Treasury Services

-     Managing Director, Credit Risk

Former board roles

2007 - 2013                  DTCC, Member Of The Board Of Directors & Chairman of Board Risk Committee

2011 - 2013                  CLS Group Holdings & CLS Bank International, Director

Mr Weisbrod also previously represented JPMorgan as a member of the New York Federal Reserve Bank's Payments Risk Committee.

Education

MBA, New York University, USA

Bachelor of Arts, Cornell University, USA

About London Stock Exchange Group:

London Stock Exchange Group (LSE.L) is a diversified international market infrastructure and capital markets business sitting at the heart of the world's financial community. The Group can trace its history back to 1698.

The Group operates a broad range of international equity, bond and derivatives markets, including London Stock Exchange; Borsa Italiana; MTS, Europe's leading fixed income market; and Turquoise, a pan-European equities MTF. It is also home to one of the world's leading growth markets for SMEs, AIM. Through its platforms, the Group offers international business and investors unrivalled access to Europe's capital markets.

Post trade and risk management services are a significant part of the Group's business operations. In addition to majority ownership of multi-asset global CCP operator, LCH.Clearnet Group, LSEG operates CC&G, the Italian clearing house; Monte Titoli, the T2S-ready European settlement business; and globeSettle, the Group's newly established CSD based in Luxembourg.

The Group is a global leader in indexing and analytic solutions. FTSE and Russell Indexes offer thousands of indices that measure and benchmark markets around the world.  The Group also provides customers with an extensive range of real time and reference data products, including SEDOL, UnaVista, Proquote and RNS.

Following the acquisition of Russell Investments, LSEG conducted a comprehensive review of the investment management business to analyse its strategic fit with the Group. This was concluded in February 2015, and LSEG is now exploring a sale of the business in its entirety.

London Stock Exchange Group is a leading developer of high performance trading platforms and capital markets software for customers around the world. In addition to the Group's own markets, over 35 other organisations and exchanges use the Group's MillenniumIT trading, surveillance and post trade technology.

Headquartered in London, with significant operations in North America, Italy, France and Sri Lanka, the Group employs approximately 4,700 people. Further information on London Stock Exchange Group can be found at www.lseg.com

 

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