LSEG London Stock Exchange Group Plc

By Samuel Agini

Of Financial News

London Stock Exchange Group PLC (LSE.LN) has hired Citigroup Inc.'s (C) co-head of stock trading to lead its traditional listings business, following a challenging year for capital raisings and trading volumes in the U.K.

Murray Roos, who co-led equities and securities services at Citi, will start at the LSE on April 1, according to a statement. He will join the exchange's executive committee, reporting to chief executive David Schwimmer.

Mr. Roos, who brings significant experience in trading--including equities and derivatives--will be responsible for the LSE's global primary and secondary capital markets business, which helps companies raise money and offers trading in their shares and debt.

The former derivatives trader joins after a challenging time for the division, which includes the Italian exchange Borsa Italiana.

The amount of money raised by issuers, which include companies and governments, fell by 12% to 18.4 billion pounds ($24.4 billion) in the first nine months of 2019, according to the LSE's latest accounts. Average daily trading volumes in U.K. and Italian equities were down by double-digit percentages.

Mr. Schwimmer said: "Murray Roos brings to the group deep experience in capital markets in both developed and emerging markets. He brings a global understanding of the capital markets life cycle across asset classes, from pre-trade through to trading execution and post-trade."

A well-known name in City trading circles, Mr. Roos joined Citi as global head of sales for its equities and prime finance divisions in 2015. He was promoted the following year to co-lead equities.

Prior to joining Citi, he was global co-head of prime finance and European equities at Deutsche Bank AG (DB) and before that ran the index-flow trading desk in Europe, the Middle East and Africa at UBS Group AG (UBS).

Mr. Roos became a derivatives trader in South Africa after an accident brought his career in chemical engineering to an end. In an interview with Financial News in 2017, he revealed that he had to be pulled from a vat of anti-foaming agent. "I was lying on the transom at two o'clock in the morning and decided that it was time to change careers," he said.

Mr. Roos said: "I'm delighted to be joining [the London Stock Exchange Group], an iconic institution with a world-class capital markets business. I look forward to working with the talented team to drive the business forward."

He will replace Raffaele Jerusalmi, who will remain head of Borsa Italiana.

The appointment continues Mr. Schwimmer's shake-up of the LSE's executive team since he became CEO in August 2018. On his watch, the LSE has appointed four new members--including Mr. Roos--to its executive team, which comprises 10 people. The exchange is also looking for a successor to chief financial officer David Warren, who joined the group in 2012.

Website: www.fnlondon.com

(END) Dow Jones Newswires

January 09, 2020 09:23 ET (14:23 GMT)

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