CHANGES TO BOARD OF DIRECTORS OF LONDON STOCK EXCHANGE GROUP PLC
London Stock Exchange Group plc (LSEG) today announces that Stephen O’Connor and Stuart Lewis will join the LSEG Board as Non-Executive Directors with immediate effect. Janet Cohen, Sergio Ermotti and Gay Huey Evans will step down from the Board following the Group’s Annual General Meeting on 18 July, at which confirmations of the new appointments will be sought.
These new appointments of skilled practitioners in credit and market risk reflect the significant and growing proportion of the Group’s overall business that post trade and risk management now represent.
Chris Gibson-Smith, Chairman of LSEG, commented:
“It has been a privilege to have Janet Cohen, Sergio Ermotti and Gay Huey Evans on the Board. I would like to thank them for their valuable contributions to the successful strategic development of our business: Janet for her unstinting service and wise counsel over 12 years; Sergio for the deep market experience and knowledge he has brought to the Board since the merger with Borsa Italiana; and Gay for her regulatory and markets expertise.
“We warmly welcome Stephen O’Connor and Stuart Lewis to the Group, and to the Board. Their considerable experience in some of the more complex areas of our industry will be of great value to the organisation as we continue to drive our business forward with strong governance and sound counsel, focused on delivering shareholder value. I very much look forward to working with them.”
Stuart is currently Chief Risk Officer and Member of the Management Board at Deutsche Bank AG, having previously held senior roles at Deutsche Bank AG since 1996. From 1992 to 1996, Stuart worked at Credit Suisse Financial Products in Credit Risk Management and, from 1990 to 1991, at Continental Illinois National Bank.
Stephen is currently Chairman of the International Swaps and Derivatives Association, a position held since 2011, having been appointed as a Non-Executive Director in 2009. Stephen worked at Morgan Stanley in London and New York from 1988 to 2013, where he held a number of senior positions including Head of Counterparty Portfolio Management and Head of OTC Derivative Clearing. Stephen was a Non-Executive Director of OTC DerivNet Ltd from 2001 to 2013 and was Chairman from 2001 to 2011. He is also a member of the CFTC Global Markets Advisory Committee.
There are no other matters relating to the new directors which would require disclosure under Listing Rules 9.6.13R.
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Notes to editors:
2009 to Present Board member of the International Swaps and Derivatives Association (ISDA). Chairman since 2011
1988 to 2013 MORGAN STANLEY New York and London
2012 to 2013 Director, Derivatives Regulatory Reform
2010 to 2012 Global Head OTC Derivative Client Clearing
2000 to 2010 Global Head Counterparty Portfolio Management (CPM)
1994 to 1999 Treasurer – Derivative Products Group
1993 EMEAFinancial Controller, Equity Derivatives
1988 to 1993 EMEA Financial Controller – Interest Rate
1984 to 1988 PRICE WATERHOUSE London, Audit Manager
2012 to Present Member Global Markets Advisory Committee U.S. Commodity Futures Trading Commission
2001 to 2013 Board member of OTC DerivNet Limited. Chairman 2001 to 2011
1996 to Present DEUTSCHE BANK AG London and Singapore
2012 to Present Chief Risk Officer and Member of the Management Board
2010 to 2012 Managing Director, Group Deputy Chief Risk Officer and Chief Risk Officer for CIB (since 2011), London
2007 to 2010 Managing Director, Group Chief Credit Officer, London
2003 to 2007 Managing Director, Loan Exposure Management Group
(Head of Department from 2005 onwards), London
2001 to 2003 Managing Director, Global Head of CRM for Investment
1999 to 2001 Managing Director, Chief Credit Officer, and then Chief Risk Officer,
Asia Pacific, Singapore
1996 to 1999 Director, Credit Risk Management, London
1992 to 1996 CREDIT SUISSE FINANCIAL PRODUCTS
Credit Risk Management
1990 to 1991 CONTINENTAL ILLINOIS NATIONAL BANK
1989 to 1990 CREDIT LYONNAIS
About London Stock Exchange Group:
London Stock Exchange Group (LSE.L) is a diversified international exchange Group that sits at the heart of the world's financial community. The Group can trace its history back to 1801.
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 the Pan-European equities and derivatives platform, Turquoise. Through its markets, 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. LSEG operates CC&G, the Rome headquartered CCP and Monte Titoli, the significant European settlement business, selected as a first wave T2S participant. The Group is also a majority owner of leading multi-asset global CCP, LCH.Clearnet.
The Group offers its customers an extensive range of real-time and reference data products, including Sedol, Unavista, Proquote and RNS, as well as access to over 200,000 international equity, bond and alternative asset class indices, through LSEG’s world leading index provider, FTSE.
London Stock Exchange Group is also a leading developer of high performance trading platforms and capital markets software. In addition to the Group’s own markets, over 30 other organisations and exchanges around the world use the Group’s MillenniumIT trading, surveillance and post trade technology.
Headquartered in London, United Kingdom with significant operations in Italy, France, North America and Sri Lanka, the Group employs approximately 2,800 people.
Further information on London Stock Exchange Group can be found at: www.lseg.com