Author: Tom Bailey
12 Jun 2015
Mary Schapiro has been appointed non-executive director by the London Stock Exchange Group Board, to take effect from July. According to a press release from the LSEG, “Mary brings considerable experience and a deep understanding of US financial markets, which will be of significant benefit to the Group as it expands its operations in North America.”
Schapiro has had a long career in financial regulation
Chris Gibson-Smith, Chairman of the LSEG, is quoted as saying he is “delighted to welcome Mary Schapiro to the Group Board. Mary’s extensive knowledge of the US financial and regulatory landscape, her broad global markets experience, and her understanding of complex financial infrastructure will be of great value to the Group as we continue to grow our global footprint.”
Schapiro has had a long career in financial regulation. Starting with her selection by President Ronald Reagan to fill a Democratic seat at the SEC in 1988, she went on to perform various senior roles at US financial regulation agencies, including becoming Chairwomen of the Commodities and Futures Trading Commission in 1994 and Chairwoman of the SEC in 2009. During her career she has overseen a number of high profile crackdowns on Wall Street, such as one that involved issuing Goldman Sachs with a record $500m penalty for its role in subprime mortgage selling.
David Weisbrod, CEO of LCH.Clearnet, is also set to aid the US expansion after being appointed to the role of LSEG USA Country Head. According to the LSEG he “will work closely with the business divisions and functions to guide and coordinate LSEG’s relationship with its main regulators and other public stakeholders,” as well as oversee risk and compliance within the US.