Stock exchange in shake-up of its management team

The LSE said CFO Doug Webb would be standing down next month, to be replaced by David Warren, who formerly held the same post at US exchange Nasdaq.

“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,” Xavier Rolet, chief executive of the LSE Group, said.

Mr Rolet is working on an ambitious plan to diversify the LSE and in April secured the backing of shareholders to buy 60 per cent of European clearing house LCH.Clearnet. Analysts said Mr Webb was well respected and had done a good job. The statement gave no indication of plans for his next job.

The LSE also said former JP Morgan banker Alexander Justham had been appointed to the new position of chief executive of its London Stock Exchange Plc subsidiary.

Mr Justham, who joins from regulator the Financial Services Authority, will be responsible for regulatory strategy, government and public affairs.

“There is a huge amount of regulatory change going on... so it is always good to have your voice heard,” said Richard Perrott, an analyst at Berenberg Bank.

Among other changes, the exchange said chief information officer Antoine Shagoury has also been made the group’s chief operating officer, while David Lester has been appointed group director of strategic development, a role he will do alongside his existing position as group director of information services.

“It reflects the fact the business is growing and becoming more international. Some of the changes are just internal re-jigging, and so reflect fine tuning rather than a significant shift in strategy,” said Mr Perrott.

Director of Post Trade Services Kevin Milne and Head of Primary Markets Tracey Pierce will also be leaving.