Nasdaq executive to join LSE

ON

ON Stock Exchange (LSE) said yesterday that David Warren will jump ship from Nasdaq to become its new finance chief, as it unveiled a management shake-up designed to diversify the company beyond its share trading business into data, technology and clearing.

Warren, who holds the equivalent role at US exchange Nasdaq, will replace Doug Webb at the start of July.

Xavier Rolet, chief executive of the LSE, said: “With our sights firmly set on becoming the world’s leading diversified exchange group, I am delighted that David Warren will be joining the company. David’s international expertise will be a real asset to the group.”

The LSE also announced the creation of a new position of chief executive for the group’s London Stock Exchange PLC subsidiary.

Former JP Morgan banker Alexander Justham, who has also served as director of markets at the Financial Services Authority, has been appointed to the new position. He will be responsible for group-wide regulatory strategy and public affairs.

Elsewhere chief information officer Antoine Shagoury has been made the group’s chief operating officer and group director of information services. David Lester has gained an additional role as group director of strategic development.

Rolet is pursing a strategy of diversification and earlier this year gained shareholder permission to buy a majority share in clearing house LCH.Clearnet.