LCH, the top clearing house group owned by the London Stock Exchange, today announced a shake-up of its leadership.
Daniel Maguire, currently LCH's operating chief, is to take over as chief executive of the firm. Current CEO Suneel Bakhshi will step down with immediate effect.
Maguire takes over the reigns after recently being promoted to COO in April 2017.
Suneel will assume the role of chairman, LSEG International Advisory Groups.
London Stock Exchange chief executive Xavier Rolet said:
I look forward to working with Daniel Maguire in his new role as CEO of LCH Group to further the next stage of its global development and I’m pleased to welcome him as a member of LSEG’s Executive Committee.
LCH's chair, Lex Hoogduin, said Maguire brings "extensive experience to the role".
He added: "I would like to thank Suneel Bakhshi for his leadership and contribution to LCH Group over the past four years. He is an outstanding business leader and has played an instrumental role in positioning LCH Group to ensure its continuing growth, resilience and efficiency as a leading global clearing house."