One of the London Stock Exchange's (LSE) most senior executives is to work from New York.
Pascal Boillat has been named as new Chief Operating Officer (COO) of the stock market, replacing David Shalders, who works from London.
The agreement with Boillat will increase concerns that London is still losing ground to New York, the latter having pulled away in recent years as businesses opt to go stateside.
However, an LSE spokesman refuted claims the New York hire showed a lack of commitment to London.
They said: "LSEG [London Stock Exchange Group] is a global organisation with a clear commitment to London. In addition, our CEO and CFO are based in our London headquarters.".
Upon joining, Boillat said: "I look forward to joining LSEG at an exciting juncture for the Group as it continues to build its position as a leading global financial markets infrastructure and data provider.”
Chief executive of the LSE, David Schwimmer, added: “He brings a wealth of experience having held senior leadership roles in operations and technology for global financial services firms.”
FTSE 100
The UK's flagship share index, the FTSE 100, was up eight-points at 8,294 shortly after opening this morning.
Brent crude oil futures were up 0.06%, trading at $79.92 a barrel.
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