MONDAY, 22 APR 2019

 

CONNECT

Facebook Linked In Twitter
Leptos_Estates_15/04-15/07_728x90px
Invest Cyprus 30/04-30/03/2019
IMH LTD

Prodromou: The President's Goal is the Resumption of Talks the Soonest

Theodosiou presents the “Shifting forces in the regional energy ecosystem”

IMH LTD
GAP_Group_2018_468x60px

INTERNATIONAL

brought to you by CIPA

David Schwimmer Appointed New CEO of London Stock Exchange

David Schwimmer Appointed New CEO of London Stock Exchange

The London Stock Exchange has appointed a new chief executive to replace Xavier Rolet, who quit last November amid a bruising boardroom row, the BBC reports.

David Schwimmer, who has spent 20 years at investment bank Goldman Sachs, will take up the post on 1 August.

The stock exchange described him as "a leader with great experience".

Rolet was asked to leave a year earlier than planned, with one of the firm's biggest shareholders claiming he was forced out.

Under Rolet's leadership, the company's value went from £800m to nearly £14bn, but press reports suggested some staff disliked his management style.

Following the row, the stock exchange announced that its chairman, Donald Brydon, who had faced a shareholder vote on the decision to remove Rolet from the board, would step down in 2019.

Sir Chris Hohn, the hedge fund tycoon whose fund owns more than 5% of the LSE, had pushed for Rolet to remain as the stock exchange's boss and for Mr Brydon to leave instead.

Brydon said he was "delighted" to announce Schwimmer's appointment after "a comprehensive global search".

He added: "David is a leader with great experience in the financial market infrastructure sector, which he has been closely involved in throughout his investment banking career, as well as capital markets experience in both developed and emerging markets.

"He is well known for his robust intellect and partnership approach with clients and colleagues alike."

Schwimmer, aged 49, is currently Goldman Sachs' global head of market structure and global head of metals and mining.

"It seems an odd choice to go for an investment banker with little experience in equities, though at least he and [Mr] Rolet have both worked for Goldman Sachs," said Michael Hewson, chief market analyst at CMC Markets.

"I'm sure he will be a good appointment, given his experience at Goldman Sachs, but why he won't be joining until 1 August also seems rather odd.

 

MORE ON INTERNATIONAL

China Economy: First Quarter Growth Beats Expectations at 6.4%

China's economy grew slightly faster than expected in the three months to March, ...

KPMG: Scalability of Intelligent Automation Technologies is Directly Linked to Financial Performance

According to KPMG’s new “Easing the pressure points: The State of Intelligent ...

Production in Construction up by 3.0% in Euro Area

In February 2019 compared with January 2019, seasonally adjusted production in the ...

FROM AROUND GOLDNEWS

   

Cyprus Records Fiscal Deficit 4.8% and Public Debt 102.5% of GDP in 2018

The Statistical Service of Cyprus has announced the preliminary fiscal results for 2018, which have been audited and verified within the Excessive Deficit ...
   

Prodromou: The President's Goal is the Resumption of Talks the Soonest

President Nicos Anastasiades` goal is for the Cyprus talks to resume as soon as possible and on the correct basis, Government Spokesman Prodromos ...
   

National Enquirer Sold to US Magazine Distributor

The owner of US tabloid newspaper the National Enquirer has agreed to sell the title to magazine distributor James Cohen, the BBC reports. American Media ...
   

UCY and PwC Cyprus Co-organise the 4th Innovation and Entrepreneurship Forum

Faithful to its commitment to promote innovation and entrepreneurship, PwC supported for yet another year, the annual Innovation and Entrepreneurship Forum ...
   

5 Ways a Business Coach Can Help New Businesses

In an ever-changing and highly competitive environment, with a limited margin of error, new business founders quickly realize that it is difficult or merely ...
   

9th ICT Conference & Exhibition

ΙΜΗ presents the 9th Information and Communication, Technology Conference & Exhibition which will take place on Friday, June 7, 2019 at Hilton Park Hotel ...
   

EY: Global IPO Momentum Slows but Q2 2019 is Set to Rebound

Despite positive performance of main stock indices and a decrease of volatility in many markets, ongoing geopolitical uncertainties and trade issues continue ...
   

Debenhams Department Stores in Cyprus Operate Normally

Ermes Department Stores Plc, a member of the CTC Group, operating the Debenhams department stores in Cyprus through a franchise agreement, would like to ...
 

YOUR COMMENTS

HEADLINES

MOST POPULAR

NewCyTech_22/02-22/04_300x250px
Gold_Issue_300x250px

IMH LTD