The London Stock Exchange named ex-Goldman Sachs banker David Schwimmer as its new CEO, after Xavier Rolet stepped down in November.

Schwimmer has spent the last 20 years with Goldman Sachs, where he was Global Head of Market Structure and Global Head of Metals and Mining in Investment Banking. He will join the group on 1 August 2018 and will be a member of the Board of Directors.

David Warren, Interim CEO and Group CFO, will continue as group CFO and a member of the Board.

“I have been impressed by its strong track record of partnering with customers to deliver innovative solutions. LSEG has multiple opportunities for further attractive growth across its market leading capital formation, information services and post trade businesses,” said Schwimmer said.

His appointment was made amongst claims that his predecessor, Rolet, was forced out by board members after a row, with the board taking a dislike to his management style.

Donald Brydon, Chairman of the London Stock Exchange Group, said he was “delighted to announce” the new appointment.

“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”.