Changes to Board of London Stock Exchange Group plcSep 27 2010 - 10:00
London Stock Exchange Group (LSEG) today announces that Angelo Tantazzi, Deputy Chairman, will step down from the Board with immediate effect. Paolo Scaroni, CEO of Eni and LSEG Non-Executive Director since 2007 will replace him as Non-Executive Deputy Chairman.
In addition, Massimo Tononi, today joins the Board of LSEG as an independent Non-Executive Director.
Chris Gibson-Smith, Chairman of London Stock Exchange Group, commented:
“I would like to thank Angelo for his significant role in the development of Borsa Italiana and for his contribution to the LSEG Board. Angelo will continue to chair the Board of Borsa Italiana until next year so we will benefit from his experience within the Group until then.
“I am delighted to welcome Massimo Tononi to the Board. As we continue to build our business internationally, his deep knowledge of the banking industry and his experience as Treasury Undersecretary at the Italian Ministry of Economy & Finance will bring valuable additional expertise to the Group. I am also extremely grateful to Paolo Scaroni for agreeing to become Deputy Chairman.”
Massimo Tononi was Partner & Managing Director in the investment banking division of Goldman Sachs until July this year. While at Goldman Sachs, he played a senior role in the business development and execution of investment banking transactions throughout Europe. Between 2006 – 2008, he was Treasury Undersecretary at the Italian Ministry of Economy & Finance in Rome.
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Notes to editors:
Biography of Massimo Tononi
2008 – July 2010 Goldman Sachs, London
Partner & Managing Director
2006 – 2008 Italian Ministry of Economy & Finance, Rome
1994 – 2006 Goldman Sachs
2005 – 2006 Partner & Managing Director, London
1999 – 2005 Partner & Managing Director, Head of Milan Office
1994 – 1999 Investment Banking Division, London
1993 – 1994 Istituto Per La Ricostruzione Industriale (IRI SpA), Rome
Personal Assistant to the Chairman (Romano Prodi)
1988 – 1993 Goldman Sachs, London
May 2010 – Mittel S.p.A. – Member of the Board
June 2010 – Sorin S.p.A. – Member of the Board and of the Executive Committee
July 2010 – Prysmian S.p.A. – Member of the Board and of the Audit Committee
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 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 and US lit and dark equity trading in approximately 2,000 securities across 19 countries.