Wheatley quits LSE

Wheatley quits LSE

The London Stock Exchange's deputy chief executive Martin Wheatley is stepping down after 18 years at the Exchange.

Wheatley was most recently responsible for the Exchange's regulatory strategy, public policy and communications. He has served on the LSE board since July 1998 and was one of the frontrunners for the chief executive's seat after Gavin Casey stepped down in October 2000.

In a statement, Clara Furse, chief executive, says: "Martin has made an outstanding contribution to the Exchange's development; in particular he played a key role in establishing the successful SETS electronic order book and during the Exchange's demutualisation in 2000."

Wheatley will stay on at LSE until 1 April 2004.

Separately, the LSE has established a management board to oversee the running and future development of its Alternative Investments Market (AIM).

The management board will be chaired by Martin Graham, who in addition to his existing role as the Exchange's director of market services, will assume the role of head of AIM. LSE says it will also recruit for the position of deputy head of AIM, who will have responsibilities for co-ordinating the future development of the market, including regulation, policy and business development activities.

Other key members of the management board will include Tracey Pierce, the Exchange's head of company services, who will retain responsibility for AIM business development activities in the UK and internationally, while David Shrimpton, the LSE's head of trading services, will continue to be responsible for AIM regulation and policy issues.

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