Massimo Capuano to leave London Stock Exchange Group
- Raffaele Jerusalmi to become CEO of Borsa Italiana
London Stock Exchange Group (LSEG) announces today that Massimo Capuano Deputy CEO of LSEG and CEO of Borsa Italiana has resigned from the Company, handing over the role of CEO of Borsa Italiana to Raffaele Jerusalmi.
While his decision to leave the LSEG Board and hand over executive responsibilities takes effect from the end of the financial year, 31 March 2010, Massimo has agreed to remain a board member of Borsa Italiana for a further four months given his unparalleled experience of, and high standing within, the Italian marketplace.
As CEO of Borsa Italiana since 1997, Massimo led the company’s privatisation and subsequent growth and development into one of Europe’s most successfully integrated and efficient markets. Since the completion of Borsa Italiana’s merger with London Stock Exchange Group in 2007, Massimo has overseen technology integration, post-trade development as well as regulatory and institutional affairs at Group level.
Commenting on Massimo’s decision, Chris Gibson-Smith, Chairman of LSEG, said:
“The Board would like to offer its gratitude to Massimo for his years of service leading Borsa Italiana, and his role in the enlarged group following the merger. Massimo has been a great champion for the increased efficiency, competitiveness and internationalisation of the Italian marketplace, and the success of Borsa Italiana reflects his leadership. He leaves with our best wishes for the future.”
Massimo Capuano said:
“I am proud of Borsa Italiana’s achievements over the past 12 years. We have grown significantly both in size and stature and have developed world-class products and services across different assets classes and through the value chain. The company is now an integral and valued part of London Stock Exchange Group and as such is an important player on the world stage.”
Commenting on Raffaele’s appointment, Xavier Rolet, added:
“Raffaele Jerusalmi has a deep understanding of the markets we operate in and extensive international client relationships. He has been intimately involved in the development of Borsa Italiana for over 10 years and is therefore highly qualified for his new role as CEO of Borsa Italiana in addition to his central position as Director of Capital Markets for the Group.”
Raffaele joined Borsa Italiana in 1998, following significant markets experience at Credit Suisse First Boston. He was the executive director of Borsa Italiana Group from 1998 to 2007 responsible for Equities, Derivatives and Fixed Income markets. Following the merger of the London Stock Exchange and Borsa Italiana in 2007, he has been a member of the Executive Committee of LSEG and is Director of Capital Markets for the Group.
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Notes to editors
About London Stock Exchange Group:
London Stock Exchange Group is Europe's leading diversified exchange business, incorporating Borsa Italiana and the London Stock Exchange. With over 500 member firms and more than 3,000 companies quoted across its markets, the Group operates the largest and most liquid equity marketplace in Europe.
The London Stock Exchange itself is the world's most international exchange with more than 600 overseas companies from over 70 countries. These figures include international companies quoted on the Alternative Investment Market (AIM), the London Stock Exchange's growth market, and the world's most successful market for small and medium sized enterprises with over 1,200 companies.
The Group offers trading in a wide range of instruments, holding the number one position in the trading of exchange-traded products (ETFs and ETCs) and through its interest in MTS, is Europe’s leading platform for the trading of fixed income products. Through the Order Book for Retail Bonds (ORB) and Mercato Telematico delle Obbligazioni (MOT) the Group also offers a comprehensive range of UK and European corporate and government bond trading services. Its Italian Derivatives Exchange Market (IDEM) sees over €2.5 billion worth of trading every day and through EDX London the Group provides a facility for the trading of Scandinavian and Russian equity derivatives.
London Stock Exchange Group also offers post-trade services such as netting, clearing and settlement on an efficient and competitive basis. These include services from Monte Titoli, the Central Securities Depository for all Italian financial instruments, and Cassa di Compensazione & Garanzia (CC&G), which in July 2009 was granted Recognised Overseas Clearing House (ROCH) status by the FSA to operate in the UK.
With the acquisition of MillenniumIT, the Group encompasses a leading developer of low cost high performance trading platforms and financial markets software serving both the industry and the Group's own businesses.
Since February 2010 London Stock Exchange Group has owned a majority stake in Turquoise, a Mulitlateral Trading Facility (MTF) providing pan-European lit and dark equity trading in some 1,700 securities across 17 countries.