The London Stock Exchange Group announced Friday that it has picked Goldman Sachs banker David Schwimmer as the company's new chief executive. American Schwimmer, 49, will start on August 1 after a 20-year career with US banking giant Goldman Sachs, the LSEG announced in a statement. He will replace Frenchman Xavier Rolet, who was forced out late last year.
Schwimmer will be paid an annual salary of £775,000 ($1.1 million, 891,800 euros) with a bonus opportunity of 225 percent of that figure. He will also bank a one-off payment of £1.0 million to compensate for the "forfeiture of cash compensation for 2018 from his previous employer".
Frenchman Xavier Rolet had stood down as LSE boss in November 2017 after a reported boardroom struggle on concerns over his management style. At Goldman Sachs, Schwimmer was most recently the global head of market structure and global head of metals and mining in the investment banking division.
He also had a stint as chief of staff to Lloyd Blankfein, the bank's then president. The LSEG said that Schwimmer brings a strategic perspective on financial markets infrastructure to the company.
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