London Stock Exchange Group flies in new CFO from Paris on £850,000 a year
The London Stock Exchange has flown in a new chief financial officer from Paris, and he’ll be on more than three-quarters of a million pounds a year.
Michel-Alain Proch was announced in the new role this morning, joining in February next year, as Anna Manz will step down, after three years.
He joins the company from Publicis Groupe SA and will relocate from Paris to London upon taking up the role, with the LSEG saying he’ll be on £850,000 a year, before bonuses.
At Publicis Groupe, he leads a global finance team across 100 countries, and previously held a number of CFO roles at listed companies, including Ingenico and Atos,
David Schwimmer, the chief executive of LSEG whom Proch will report to, heralded his “deep experience across global, financial infrastructure and IT data solutions firms” which he said “will be invaluable as we deliver against the next stage of our strategic growth”.
Michel-Alain Proch called it “an exciting time to be joining LSEG as the Group continues its transformation as a leading global financial markets infrastructure and data provider. I look forward to working with David and the entire team to deliver against our strategy and achieve further value for stakeholders”.
The London Stock Exchange’s boss has spoken at length about the capital’s pedigree as a place for firms to IPO, saying recently more will return when markets calm down.
Last month, the London Stock Exchange Group said it was on track to hit the top end of its forecasts for the year after income ticked up over the summer despite a slump at its flagship exchange.