December 14, 2018 / 3:00 PM / 4 months ago

LSE names Experian's Donald Robert as next chairman

FILE PHOTO: London Stock Exchange interiors are seen in London, Britain, November 3, 2017. REUTERS/Eddie Keogh/File Photo

(Reuters) - London Stock Exchange Group Plc (LSE.L) said on Friday Chairman Donald Brydon would be replaced by Donald Robert, chairman of the world’s biggest credit data firm Experian Plc (EXPN.L).

Robert, who has been Experian’s chairman and a director at the Court of the Bank of England for more than four years, has been appointed as a non-executive director and will take over from Brydon after the company’s annual general meeting in May, LSE said.

Brydon’s exit comes a year after activist hedge fund TCI unsuccessfully tried to oust him over the way he handled the departure of former chief executive Xavier Rolet.

Robert joins LSE at a time when its clearing house LCH Group is at the center of debates about the impact of Brexit on Britain’s finance industry. The European Union and the European Central Bank have been pushing the clearing house to move to the bloc, where they can regulate it directly.

LSE, a 300-year-old institution, named Goldman Sachs’ veteran David Schwimmer as chief executive officer earlier this year, and tasked him with the challenge of helping to navigate Brexit.

Robert will relinquish his roles at Experian and the Bank of England once he joins LSE.

Reporting by Shashwat Awasthi and Muvija M in Bengaluru; Editing by Saumyadeb Chakrabarty

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