London Stock Exchange Group (LSEG) officials report that former head of the SEC, Mary Schapiro, will join the LSEG board as a non-executive director, effective on the first of July.
In addition, David Weisbrod, CEO of LCH.Clearnet, has been named LSEG’s U.S. country head.
“In this new role, David will work closely with the business divisions and functions to guide and coordinate LSEG’s relationship with its main regulators and other public stakeholders. He will also focus on the development and implementation of LSEG’s strategic plans across the region, represent the group at key events, help drive cross-divisional collaboration, and oversee the risk, compliance and regulation agenda in the USA,” according to an LSEG statement. He also will continue in his position as LCH.Clearnet CEO.
Schapiro “brings considerable experience and a deep understanding of U.S. financial markets, which will be of significant benefit to the group as it expands its operations in North America,” LSEG says in the statement.
Mary Schapiro, non-executive director, LSE.
LSEG officials enumerate her “senior regulatory positions including, from 2009 to 2012, the chairman of the US Securities & Exchange Commission. She has also variously held the chairmanships of the Financial Industry Regulatory Authority (FINRA), and its predecessor, the National Association of Securities Dealers Regulation, and the Commodity Futures Trading Commission (CFTC). In these roles, Mary has made a significant contribution to shaping US financial regulatory policy as well as overseeing activity within the US financial markets.”
Weisbrod has been LCH.Clearnet CEO since 2013, officials say. Prior to that, he held several senior posts at JPMorganChase, including vice chairman, risk management, and chief risk officer, treasury and securities services.
Schapiro is currently senior advisor for governance and regulatory matters, Hudson Executive Capital, and advisory board member, SpruceView Capital, officials add.
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